On 11/21/12, Safe Bulkers Inc (SB) will trade ex-dividend, for its quarterly dividend of $0.05, payable on 11/30/12. As a percentage of SB's recent stock price of $3.59, this dividend works out to approximately 1.39%, so look for shares of Safe Bulkers Inc to trade 1.39% lower all else being equal when SB shares open for trading on 11/21/12.