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 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.
Costamare reported Q2 2020 financial results with voyage revenues of $111.9 million and a net loss of $83.9 million due to non-cash charges. Adjusted net income was $31.7 million, or $0.26 per share. The company has $220.7 million in liquidity and completed refinancing with no significant debt maturities until 2024. Costamare chartered 24 vessels in the quarter and declared a dividend of $0.10 per share. Notably, they delivered the YM Triumph, the first of five new vessels, commencing a ten-year charter with Yang Ming.
Costamare Inc. (NYSE: CMRE) will release its second-quarter earnings on July 27, 2020, after market close. A conference call to discuss the results is scheduled for July 28, 2020, at 8:30 a.m. ET. Participants can dial in 10 minutes before the call or join a live webcast via the company’s website. Costamare operates a fleet of 75 containerships with a total capacity of approximately 547,000 TEU, including five newbuilds currently under construction. The press release highlights the company’s 46-year history in the shipping industry.
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