Safe Bulkers Announces Repurchase Program for Up to 10 Million Shares of Common Stock.

Safe Bulkers, Inc. has announced a 10 million shares common stock repurchase program, representing 9.8% of its outstanding shares and 20% of its public float. The program does not obligate the company to purchase shares and may be modified or terminated at any time. Purchases will be made in the open market and funded using existing cash resources. This program supersedes any prior repurchase program. The company is an international provider of marine drybulk transportation services and its common stock is listed on the NYSE.