Costamare Inc. Declares Quarterly Dividend on Its Preferred and Common Stock

Rhea-AI Summary

Costamare Inc. (NYSE: CMRE) has announced quarterly dividend declarations for its preferred and common stock. For the preferred stock, the company will pay:

• US $0.476563 per share on Series B (NYSE: CMRE PR B)
• US $0.531250 per share on Series C (NYSE: CMRE PR C)
• US $0.546875 per share on Series D (NYSE: CMRE PR D)

These dividends cover the period from July 15, 2024, to October 14, 2024, and will be paid on October 15, 2024, to holders of record as of October 11, 2024.

For the common stock, a quarterly dividend of US $0.115 per share has been declared for the quarter ended September 30, 2024. This dividend is payable on November 6, 2024, to holders of record as of October 21, 2024.

The company notes that dividend declarations are subject to Board discretion and depend on various factors including earnings, financial condition, and cash availability.

Positive

• Consistent dividend payments for both preferred and common stockholders
• Maintenance of dividend levels indicates financial stability

Negative

• None.

News Market Reaction

-1.84%

1 alert

-1.84% News Effect

On the day this news was published, CMRE declined 1.84%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MONACO, Oct. 01, 2024 (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 July 15, 2024 to October 14, 2024. The dividend will be paid on October 15, 2024 to all holders of record as of October 11, 2024 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 September 30, 2024. The dividend for the common stock is payable on November 6, 2024, to holders of record of common stock as of October 21, 2024.

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 50 years of history in the international shipping industry and a fleet of 68 containerships, with a total capacity of approximately 513,000 TEU and 38 owned dry bulk vessels with a total capacity of approximately 2,830,000 DWT (including one vessel that 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

FAQ

What is the dividend amount for Costamare Inc.'s (CMRE) common stock for Q3 2024?

Costamare Inc. (CMRE) has declared a quarterly dividend of US $0.115 per share on its common stock for the quarter ended September 30, 2024.

When will Costamare Inc. (CMRE) pay its Q3 2024 common stock dividend?

Costamare Inc. (CMRE) will pay its Q3 2024 common stock dividend on November 6, 2024, to holders of record as of October 21, 2024.

What are the dividend amounts for Costamare Inc.'s (CMRE) preferred stock series?

Costamare Inc. (CMRE) will pay US $0.476563 per share on Series B, US $0.531250 per share on Series C, and US $0.546875 per share on Series D preferred stock.

When will Costamare Inc. (CMRE) pay its preferred stock dividends?

Costamare Inc. (CMRE) will pay its preferred stock dividends on October 15, 2024, to holders of record as of October 11, 2024.