Safe Bulkers' Series D Preferred Shares Cross 9% Yield Mark

In trading on Tuesday, shares of Safe Bulkers Inc's 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares (SB.PRD) were yielding above the 9% mark based on its quarterly dividend (annualized to $2.00), with shares changing hands as low as $22.13 on the day. This compares to an average yield of 6.70% in the "Shipping" preferred stock category, according to Preferred Stock Channel. As of last close, SB.PRD was trading at a 10.40% discount to its liquidation preference amount, versus the average discount of 12.08% in the "Shipping" category.

START SLIDESHOW:
Click here to find out the 50 highest yielding preferreds »

The chart below shows the one year performance of SB.PRD shares, versus SB:

Performance Comparison Chart

Below is a dividend history chart for SB.PRD, showing historical dividend payments on Safe Bulkers Inc's 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares:

SB.PRD+Dividend+History+Chart

In Tuesday trading, Safe Bulkers Inc's 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares ( SB.PRD) is currently down about 0.5% on the day, while the common shares ( SB) are up about 3.1%.

More from Stocks

Bank of America Rips on Earnings Beat, But Analysts See Even More Gains Ahead

Bank of America Rips on Earnings Beat, But Analysts See Even More Gains Ahead

3 Reasons Why Netflix Bulls Are Getting Their Face Ripped Off After Earnings

3 Reasons Why Netflix Bulls Are Getting Their Face Ripped Off After Earnings

Stocks End Mixed as Dow Rises, S&P 500 and Nasdaq Slip

Stocks End Mixed as Dow Rises, S&P 500 and Nasdaq Slip

Action Alerts Plus is Picking Raytheon Over Other Defense Names

Action Alerts Plus is Picking Raytheon Over Other Defense Names

Should Tesla Actually Fire Elon Musk?

Should Tesla Actually Fire Elon Musk?