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. 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.
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,
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.
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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