Maritime company Safe Bulkers has approved a new quarterly dividend for holders of its Series C and Series D preferred shares, while also moving ahead with its fleet renewal and Environmental, Social, and Governance (ESG) plans.

The board of directors of the New York-listed dry-bulk shipping company declared a cash dividend of $0.50 per share on its 8 per cent Series C Cumulative Redeemable Perpetual Preferred Shares and 8 per cent Series D Cumulative Redeemable Perpetual Preferred Shares. 

The dividend covers the period from April 30 to July 29, 2026, the company said. 

Payment will be made on July 30, 2026, to shareholders of record as of July 17, 2026. 

Safe Bulkers said dividends on the Series C and Series D preferred shares are payable quarterly in arrears on January 30, April 30, July 30 and October 30 each year. Where the payment date falls on a weekend or public holiday, the payment is moved to the next business day. 

The company stressed, however, that future dividend payments are not guaranteed and remain subject to the discretion of its board of directors. 

It also said that “any future decision will depend on several factors, including the company’s earnings, fleet employment profile, financial position, cash requirements and available liquidity.” 

The board will also take into account decisions linked to the company’s growth, fleet renewal and leverage strategies, as well as legal provisions governing dividend payments, restrictive covenants in existing and future debt instruments, and wider global economic and financial conditions. 

The announcement comes as Safe Bulkers continues to advance its fleet renewal programme. 

In a separate update, the company announced the successful launch of its first methanol dual-fuel bulk carrier, Hull No. SS386, to be named Kypros Island. 

The vessel was launched on June 25, 2026, at the Tsuneishi shipyard on Xiushan Island in the Zhoushan region of China. 

The 81,200 DWT Methanol Dual-Fuel Kamsarmax Bulk Carrier, which will fly the Cyprus flag, is scheduled for delivery at the end of October 2026. 

Safe Bulkers said the vessel forms part of its wider fleet renewal plan, which includes the acquisition of next-generation EEDI Phase 3 vessels and the use of technologies aimed at improving operational and energy efficiency. 

A second methanol dual-fuel-ready Kamsarmax newbuilding is expected to join the fleet in January 2027. 

The company said “its investment in methanol-capable vessels supports its long-term fleet renewal and decarbonisation strategy, while helping it remain aligned with future International Maritime Organisation greenhouse gas reduction requirements.” 

Safe Bulkers has also emphasised its local ESG activity in Cyprus through the Safe Bulkers Awards of Excellence 2026, held in Limassol on June 16 in partnership with Lemesos Volleyball. 

The event celebrated young female student-athletes who have distinguished themselves both academically and athletically. 

Lemesos Volleyball, which finished third in the Cyprus Volleyball First Division, also operates an academy with 180 volleyball players. 

Through the academy, Safe Bulkers awarded €10,500 in scholarships to 21 players who achieved strong academic results in their schools. 

Safe Bulkers chief executive Polys V Hajioannou referred to the company’s four-year partnership with Lemesos Volleyball and reaffirmed its support for youth development, athletic excellence and healthy living, including through the company’s ‘Love Life Without Dependencies’ campaign. 

He also said that “investing in young people and promoting positive values remain core pillars of Safe Bulkers’ ESG strategy.”