Safe Bulkers Inc. (SB) reported that its fourth-quarter net income increased to $23.164 million or $0.42 per share from $11.887 million or $0.22 per share last year.
On average, 6 analysts polled by Thomson Reuters expected the company to report profit of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenues decreased to $36.568 million from $46.638 million a year ago. Analysts expected revenue of $37.31 million for the quarter.
The company declared a cash dividend on its common stock of $0.15 per share payable on or about February 26, 2009 to shareholders of record at the close of trading of the company's common stock on the New York Stock Exchange on February 19, 2009.
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