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Costamare Inc. reports developments tied to its containership ownership and chartering business, shipping lease financing exposure, and public-company capital structure. Company updates include quarterly and annual operating results, vessel deliveries and time charters with liner customers, liquidity and profitability disclosures, and activity related to Neptune Maritime Leasing Limited.
Costamare news also covers recurring dividends on its common stock and Series B, Series C, and Series D cumulative redeemable perpetual preferred stock. Following the completed spin-off of its dry bulk business into a standalone public company, results describe that former business as discontinued operations and focus continuing-company reporting on containership operations, lease financing, governance, and financing capacity.
Costamare reported Q4 2020 results, showing an adjusted net income of $32.7 million and adjusted EPS of $0.27. For the full year 2020, adjusted net income reached $123.7 million, with an EPS of $1.02. The company secured 20 new vessel charters, enhancing contracted revenues by over $440 million with an average duration of five years. Liquidity stood at $209.8 million, and no significant debt maturities are due until 2024. The quarterly dividend announced is $0.10 per share. The overall performance reflects strong demand and reduced idle fleet, positioning the company for potential growth.
Costamare Inc. (NYSE:CMRE) will release its fourth quarter results on February 1, 2021, after market close. A conference call is scheduled for February 2 at 8:30 a.m. ET to discuss the financial results. Participants can join via phone or through the company’s website, where a replay will be available until February 9. Costamare operates a fleet of 72 containerships with a capacity of approximately 529,000 TEU, emphasizing its significant role in the international shipping industry for nearly 50 years.
Costamare Inc. (NYSE: CMRE) has declared cash dividends on its preferred and common stocks. Preferred stocks will receive dividends of US $0.476563 for Series B, US $0.531250 for Series C, US $0.546875 for Series D, and US $0.554688 for Series E, effective January 15, 2021. The common stock dividend is set at US $0.10 per share for the quarter ending December 31, 2020, payable on February 5, 2021. These dividends are subject to the Board's discretion, influenced by the company’s financial condition and growth strategies.
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Costamare reported Q3 2020 results with a net income of $25.2 million ($0.14/share) and voyage revenues of $107.9 million. The company maintains a strong liquidity of $210.4 million and no significant debt maturities until 2024. Fleet renewal efforts included acquiring three newer containerships and selling two older vessels. Costamare also extended charters for multiple vessels, indicating ongoing demand. A dividend of $0.10/share was declared, reinforcing shareholder returns amid challenges.
Costamare Inc. (NYSE:CMRE) will release its Q3 2020 earnings on October 27, 2020, after market close. A conference call is scheduled for October 28, 2020, at 8:30 a.m. ET to discuss the financial results. Participants can join the call using the numbers provided. A replay will be available until November 4, 2020, along with a live webcast accessible through the company's website. Costamare is a leading owner and provider of containerships, operating 73 vessels with a total capacity of approximately 533,000 TEU.
Costamare Inc. (NYSE: CMRE) held its annual stockholders' meeting virtually on October 2, 2020, where Konstantinos Zacharatos was elected as a Class I director. His term will end at the 2023 stockholders' meeting. Additionally, stockholders ratified Ernst & Young (Hellas) as independent auditors for the fiscal year ending December 31, 2020. Costamare boasts a fleet of 73 containerships with a total capacity of approximately 533,000 TEU, including four under construction. The company has a robust history of 46 years in the international shipping industry.
Costamare Inc. (NYSE: CMRE) has declared cash dividends for preferred and common stock. The Series B, C, D, and E Preferred Stocks will pay dividends of $0.476563, $0.531250, $0.546875, and $0.554688 per share, respectively, for the period from July 15 to October 14, 2020, payable on October 15, 2020. Additionally, a $0.10 quarterly dividend on common stock for the quarter ended September 30, 2020, will be paid on November 5, 2020. Dividend declarations depend on the company's financial health and market conditions.
Costamare Inc. (CMRE) announced that its 2020 Annual Meeting of stockholders will be held virtually on October 2, 2020, at 15:00 CEST (09:00 EDT) due to COVID-19 concerns. Stockholders of record as of August 14, 2020, can participate and vote online. The company, a leader in containership ownership with a fleet of 73 vessels totaling approximately 533,000 TEU, encourages pre-meeting proxy submissions. This adjustment underscores ongoing health priorities while maintaining shareholder engagement in corporate governance.
Costamare Inc. (NYSE: CMRE) has announced its 2020 Annual Meeting of Stockholders to be held on October 2, 2020, in Monaco. Only stockholders of record at the close of business on August 14, 2020, will be eligible to vote. The Company intends to conduct the meeting in person but may switch to a virtual format depending on COVID-19 health and safety guidelines. Costamare Inc. is a leading provider of containerships, operating 73 vessels with a capacity of approximately 533,000 TEU, including four newbuilds under construction.