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Costamare Inc. - CMRE STOCK NEWS

Welcome to our dedicated page for Costamare news (Ticker: CMRE), a resource for investors and traders seeking the latest updates and insights on Costamare stock.

Costamare Inc. (NYSE: CMRE) is a prominent international owner and provider of containerships and dry bulk vessels, headquartered in Athens, Greece. Established under Greek and Marshall Islands jurisdiction, Costamare is a significant player in the maritime industry, offering a comprehensive range of charter services to some of the world's leading liner companies.

Costamare's core business revolves around the transportation of containerized and dry bulk cargoes. The company's extensive fleet includes high-standard vessels such as Cosco Guangzhou, Cosco Ningbo, Cosco Yantian, Vantage, Valor, Valiant, and Maersk Kobe, among others. These vessels are chartered to ocean carriers that prioritize safety and reliability, ensuring the seamless movement of goods across the globe.

The company generates a majority of its revenue from the United States, reflecting its strong market presence and operational efficiency. Recent achievements highlight Costamare's commitment to growth and innovation. The company has been actively involved in vessel acquisitions and disposals, continuously modernizing its fleet to meet the evolving demands of the maritime industry.

Financially, Costamare maintains a robust position with significant cash flows from its operating activities. The company has successfully managed to keep several of its vessels debt-free, enhancing its financial stability and investment potential. Key financial figures and updates are regularly disclosed, with detailed reconciliations of net income to adjusted net income and adjusted earnings per share available for review.

Costamare's senior management, including Chief Financial Officer Gregory Zikos and Business Development lead Konstantinos Tsakalidis, play pivotal roles in steering the company's strategic direction. Their expertise and vision are critical to maintaining Costamare's leading position in the maritime sector.

For investors and stakeholders seeking the latest updates and relevant information about Costamare Inc., the company frequently announces dividend distributions and conducts detailed conference calls to discuss its operational and financial performance.

Contact Information:

Costamare Inc., Monaco
Tel: (+377) 93 25 09 40
Email: ir@costamare.com

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Costamare Inc. (NYSE: CMRE) has completed the full redemption of its 4,574,100 outstanding shares of 8.875% Series E Cumulative Redeemable Perpetual Preferred Stock. The redemption price was set at $25.00 per share, plus accrued and unpaid dividends up to July 15, 2024. Prior to the redemption, the company paid a quarterly dividend of $0.554688 per share on July 15, 2024, to holders of record as of July 12, 2024. The redemption was funded with cash on hand. Following this action, no Series E Preferred Stock remains outstanding, and all associated rights have ceased, except for the holders' right to receive the redemption price. The New York Stock Exchange has suspended trading of the Series E Preferred Stock and initiated the delisting process.

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Costamare announced its 2024 annual meeting of stockholders, set for October 3, 2024. The meeting will be held virtually. Stockholders of record by August 8, 2024, can vote and participate. Meeting details and the company's proxy statement will be sent around August 9, 2024. Costamare, listed on NYSE under the symbol CMRE, is engaged in owning and chartering containerships and dry bulk vessels.

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Costamare (NYSE: CMRE) has declared cash dividends on its preferred and common stock. The dividends are $0.476563 per share for its 7.625% Series B, $0.531250 for its 8.50% Series C, $0.546875 for its 8.75% Series D, and $0.554688 for its 8.875% Series E preferred stocks. These dividends cover the period from April 15, 2024, to July 14, 2024. Payment will be made on July 15, 2024, to shareholders on record as of July 12, 2024. Notably, Series E shares will be redeemed at $25.00 per share on July 15, 2024. Additionally, Costamare declared a $0.115 per share dividend on its common stock for Q2 2024, payable on August 6, 2024, to shareholders on record as of July 19, 2024. The board's discretion, company earnings, financial conditions, and global economic factors influence dividend declarations.

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On June 14, 2024, Costamare announced the redemption of all outstanding shares of its Series E Cumulative Redeemable Perpetual Preferred Stock, which carries an 8.875% dividend rate. The redemption will occur on July 15, 2024, at a price of $25.00 per share plus any accrued and unpaid dividends up to the redemption date. Currently, there are 4,574,100 outstanding shares of Series E Preferred Stock. After the redemption, these shares will no longer be outstanding, terminating all associated rights except the right to receive the redemption payment. The redemption will be managed through The Depository Trust Company and facilitated by Equiniti Trust Company,

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Costamare Inc. reported unaudited financial results for Q1 2024, with Net Income available to common stockholders of $94.2 million and Adjusted Net Income of $75.2 million. Liquidity stood at $1.1 billion. Containership fleet contracted revenues totaled $2.3 billion. The company concluded vessel sales and acquisitions. Neptune Maritime Leasing platform shows steady growth. Dividends were declared for common and preferred stock. Financial performance improved compared to Q1 2023.

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Costamare Inc. (NYSE:CMRE) will release its first quarter 2024 results on May 10, 2024, before the market opens in New York. A conference call, scheduled for 8:30 a.m. ET on the same day, will discuss the financial results. Participants can join the call by dialing in using the provided numbers. A replay of the call will be available until May 17, 2024. Additionally, a live webcast will be accessible through Costamare Inc.'s website.

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Costamare Inc. (NYSE: CMRE) declares cash dividends for its preferred and common stocks. Dividends range from US $0.476563 to US $0.554688 per share. The dividend payment dates vary for different stock classes. The company also announces a quarterly dividend of US $0.115 per share for common stock. The declaration of dividends is subject to various factors including earnings, financial condition, and global economic conditions.
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Costamare Inc. (NYSE: CMRE) has filed its Annual Report on Form 20-F for the fiscal year 2023, providing access to detailed financial statements. Stockholders can obtain a free hard copy by contacting the investor relations manager.
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Costamare Inc. reported unaudited financial results for Q4 2023 and FY 2023, with net income available to common stockholders of $354.7 million for FY 2023 and $96.6 million for Q4 2023. The company's year-end liquidity was $989.0 million. Costamare Bulkers Inc. has fixed a fleet of 51 dry bulk vessels, and the company's investment in Neptune Maritime Leasing Limited is $123.2 million. The company concluded the sale of several dry bulk vessels and acquired equity interest in a containership. Additionally, a new debt financing of up to $60 million was secured. The owned fleet charter update shows that 95% and 78% of the containership fleet is fixed for 2024 and 2025, respectively. Costamare declared dividends for common and preferred stock and has available funds remaining under the share repurchase program.
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Costamare Inc. (NYSE:CMRE) will release its Q4 2023 financial results on February 7, 2024, before the market opens in New York. The management team will hold a conference call to discuss the results at 8:30 a.m. ET on the same day. Participants can join the call using the provided numbers, with a replay available until February 14, 2024. Additionally, there will be a live webcast on Costamare Inc.'s website.
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FAQ

What is Costamare Inc.?

Costamare Inc. is an international owner and operator of containerships and dry bulk vessels, providing charter services to liner companies.

Where is Costamare Inc. headquartered?

Costamare Inc. is headquartered in Athens, Greece.

What types of vessels does Costamare Inc. operate?

Costamare operates containerships and dry bulk vessels, including notable ships like Cosco Guangzhou, Cosco Ningbo, and Maersk Kobe.

Who are the key executives at Costamare Inc.?

The key executives include Gregory Zikos, Chief Financial Officer, and Konstantinos Tsakalidis, Business Development lead.

How does Costamare generate its revenue?

Costamare generates the majority of its revenue from chartering its vessels to ocean carriers, primarily from the United States.

What recent financial activities has Costamare Inc. undertaken?

Costamare has been involved in vessel acquisitions and disposals, maintaining a number of debt-free vessels to enhance financial stability.

How can investors contact Costamare Inc.?

Investors can contact Costamare Inc. via phone at (+377) 93 25 09 40 or email at ir@costamare.com.

Does Costamare Inc. pay dividends?

Yes, Costamare Inc. regularly announces and distributes dividends to its shareholders.

Where can I find the latest news about Costamare Inc.?

The latest news and updates about Costamare Inc. can be found on financial news websites and the company's official communications.

What is the ticker symbol for Costamare Inc.?

The ticker symbol for Costamare Inc. on the New York Stock Exchange is CMRE.

Costamare Inc.

NYSE:CMRE

CMRE Rankings

CMRE Stock Data

1.71B
118.94M
64.39%
22.95%
1.64%
Deep Sea Freight Transportation
Transportation and Warehousing
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