Safe Bulkers, Inc., a global marine drybulk transportation services provider, has announced the authorization of a stock repurchase program. The program allows the company to purchase up to 5,000,000 shares of its common stock, representing approximately 4.5% of outstanding shares and 8.1% of the public float. The stock repurchase program is not obligatory, and the company can modify or terminate it at any time. Any share purchases will be made in compliance with relevant laws and regulations, funded using the company's existing cash resources.

SOURCE:GOOGLE