Costamare Inc. announced cash dividends for preferred shares and common stock, payable in January and February 2025.
Quiver AI Summary
Costamare Inc. has announced cash dividends for its preferred and common stock. For the Series B, C, and D Cumulative Redeemable Perpetual Preferred Stocks, the declared dividends are $0.476563, $0.531250, and $0.546875 per share, respectively, for the period from October 15, 2024, to January 14, 2025, with payment on January 15, 2025. Additionally, a quarterly common stock dividend of $0.115 per share will be paid on February 6, 2025, to shareholders on record as of January 21, 2025. The declaration of these dividends is subject to the discretion of the Board of Directors and influenced by factors such as the Company’s financial condition and market conditions. Costamare Inc. is a leading provider of containership and dry bulk vessels, operating a significant fleet and related financial services globally.
Potential Positives
- Costamare Inc. has declared dividends for its preferred stocks and common stock, highlighting the company's commitment to returning value to shareholders.
- The declared cash dividends reflect the company's ongoing financial stability and ability to generate earnings, despite the varying global economic conditions.
- The press release emphasizes the company's longstanding history and significant fleet size, indicating a strong market position in the shipping industry.
Potential Negatives
- The reliance on the discretion of the Board of Directors for future dividend payments indicates potential instability in the company’s financial performance, which could concern investors.
- The mention of the company's ability to obtain debt and equity financing on acceptable terms as part of its growth strategy highlights financial uncertainty and potential challenges in securing necessary funding.
- Forward-looking statements about future performance being inherently uncertain may raise red flags about the company's growth prospects and operational stability.
FAQ
What is the dividend declared by Costamare Inc. for its preferred stocks?
Costamare Inc. declared dividends of $0.476563, $0.531250, and $0.546875 per share for Series B, C, and D Preferred Stocks, respectively.
When will the dividends for preferred stocks be paid?
The dividends for the preferred stocks will be paid on January 15, 2025, to holders of record as of January 14, 2025.
What is the common stock dividend amount for Costamare Inc.?
The common stock dividend is set at $0.115 per share for the quarter ended December 31, 2024.
When is the payment date for the common stock dividend?
The common stock dividend will be paid on February 6, 2025, to holders of record as of January 21, 2025.
What factors may affect the declaration of future dividends?
The declaration of future dividends depends on the Company’s earnings, financial condition, cash requirements, and global economic conditions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CMRE Hedge Fund Activity
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Full Release
MONACO, Jan. 02, 2025 (GLOBE NEWSWIRE) -- Costamare Inc. (the “Company”) (NYSE: CMRE) has declared cash dividends of US $0.476563 per share on its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock (the “Series B Preferred Stock”) (NYSE: CMRE PR B), US $0.531250 per share on its 8.50% Series C Cumulative Redeemable Perpetual Preferred Stock (the “Series C Preferred Stock”) (NYSE: CMRE PR C) and US $0.546875 per share on its 8.75% Series D Cumulative Redeemable Perpetual Preferred Stock (the “Series D Preferred Stock”) (NYSE: CMRE PR D). The dividend for the Series B Preferred Stock, the Series C Preferred Stock and the Series D Preferred Stock is for the period from October 15, 2024 to January 14, 2025. The dividend will be paid on January 15, 2025 to all holders of record as of January 14, 2025 of Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock.
The Company has also declared a quarterly dividend on its common stock of US $0.115 per share for the quarter ended December 31, 2024. The dividend for the common stock is payable on February 6, 2025, to holders of record of common stock as of January 21, 2025.
The declaration of a dividend is subject to the discretion of the Board of Directors of the Company, and accordingly will depend on, among other things, the Company’s earnings, financial condition and cash requirements and availability, the Company’s ability to obtain debt and equity financing on acceptable terms as contemplated by the Company’s growth strategy, the restrictive covenants in the Company’s existing and future debt instruments and global economic conditions.
About Costamare Inc.
Costamare Inc. is one of the world’s leading owners and providers of containerships and dry bulk vessels for charter. The Company has 51 years of history in the international shipping industry and a fleet of 68 containerships, with a total capacity of approximately 513,000 TEU and 39 owned dry bulk vessels with a total capacity of approximately 3,054,000 DWT (including three vessels we have agreed to acquire and one vessel we have agreed to sell). The Company also has a dry bulk operating platform which charters in/out dry bulk vessels, enters into contracts of affreightment, forward freight agreements and may also utilize hedging solutions. The Company participates in a leasing business that provides financing to third-party owners. The Company’s common stock, Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock trade on the New York Stock Exchange under the symbols “CMRE”, “CMRE PR B”, “CMRE PR C” and “CMRE PR D”, respectively.
Forward-Looking Statements
This press release contains “forward-looking statements”. In some cases, you can identify these statements by forward-looking words such as “believe”, “intend”, “anticipate”, “estimate”, “project”, “forecast”, “plan”, “potential”, “may”, “should”, “could” and “expect” and similar expressions. These statements are not historical facts but instead represent only the Company’s belief regarding future results, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Company’s Annual Report on Form 20-F (File No. 001-34934) under the caption “Risk Factors”.
Company Contacts:
Gregory Zikos - Chief Financial Officer
Konstantinos Tsakalidis - Business Development, Investor Relations
Costamare Inc., Monaco
Tel: (+377) 93 25 09 40
Email: ir@costamare.com
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