**Safe Bulkers Declares Dividend as Kypros Island Launches**
Safe Bulkers, a New York-listed maritime company, has announced a new quarterly dividend for its Series C and Series D preferred shareholders, while simultaneously advancing its fleet renewal and Environmental, Social, and Governance (ESG) initiatives. The board of directors declared a cash dividend of $0.50 per share on its 8% Series C Cumulative Redeemable Perpetual Preferred Shares and 8% Series D Cumulative Redeemable Perpetual Preferred Shares. This dividend will cover the period from April 30 to July 29, 2026, with payments scheduled for July 30, 2026, to shareholders on record as of July 17, 2026.
Dividends on the Series C and Series D preferred shares are set to be paid quarterly in arrears on January 30, April 30, July 30, and October 30 each year. Should any payment date coincide with a weekend or public holiday, the payment will be adjusted to the next business day. However, Safe Bulkers has cautioned that future dividend payments are not guaranteed and will depend on various factors, including the company's earnings, fleet employment profile, financial position, cash requirements, and available liquidity. The board will also consider the company's growth strategies, fleet renewal plans, legal provisions governing dividends, and broader economic conditions when making future decisions.
This announcement coincides with the successful launch of Safe Bulkers' first methanol dual-fuel bulk carrier, named Kypros Island. The vessel was launched on June 25, 2026, at the Tsuneishi shipyard in the Zhoushan region of China. With a deadweight tonnage of 81,200 DWT, the Kypros Island is part of Safe Bulkers' broader fleet renewal strategy, which aims to incorporate next-generation EEDI Phase 3 vessels and technologies that enhance operational and energy efficiency. The vessel is expected to be delivered at the end of October 2026, and it will fly the flag of Cyprus. A second methanol dual-fuel-ready Kamsarmax newbuilding is anticipated to join the fleet in January 2027.
Safe Bulkers has emphasized that its investment in methanol-capable vessels aligns with its long-term fleet renewal and decarbonization strategy, which is in accordance with future International Maritime Organisation greenhouse gas reduction requirements. The company is committed to improving its environmental footprint while maintaining operational efficacy.
In addition to its fleet advancements, Safe Bulkers has also been active in promoting local community engagement through its ESG initiatives. Recently, the company hosted the Safe Bulkers Awards of Excellence 2026 in Limassol, in collaboration with Lemesos Volleyball. This event, held on June 16, celebrated the achievements of young female student-athletes who excelled academically and athletically. Lemesos Volleyball, which finished third in the Cyprus Volleyball First Division, operates an academy with 180 players. During the event, Safe Bulkers awarded €10,500 in scholarships to 21 players who demonstrated strong academic performance.
Polys V Hajioannou, CEO of Safe Bulkers, spoke about the company's four-year partnership with Lemesos Volleyball, reaffirming its commitment to youth development, athletic excellence, and healthy living. He highlighted the importance of investing in young people and promoting positive values as core components of Safe Bulkers' ESG strategy.
As Safe Bulkers continues to navigate the evolving maritime landscape, its focus on dividend distribution, fleet modernization, and community engagement reflects its commitment to sustainable growth and corporate responsibility. The combination of financial returns for investors and investments in future technologies and local initiatives positions the company as a proactive player in the maritime industry.