Costamare Stock Price, News & Analysis

Costamare Inc. (NYSE: CMRE) has announced its annual stockholders' meeting to be held on October 6, 2022, in Monaco. Stockholders of record as of August 18, 2022, will be eligible to vote. The meeting is planned to be in person, but alternative arrangements may be made in case of ongoing health concerns related to COVID-19. This company specializes in providing containerships and dry bulk vessels for charter, boasting a fleet of 76 containerships and 45 dry bulk vessels, showcasing a significant presence in the international shipping industry.

Costamare Inc. (NYSE: CMRE) reported record Q2 2022 financial results, with a net income of $114.1 million ($0.92/share), up from $82.8 million ($0.67/share) in Q2 2021. Adjusted net income increased to $118.6 million ($0.95/share) from $58.3 million ($0.47/share). Liquidity surged to $854.1 million. The company closed a $500 million syndicated loan facility, enhancing cash flow while reducing financing costs. A share repurchase program saw 4.7 million shares bought back. The fleet is fully employed for the rest of the year, with 95% fixed for 2023.

Costamare Inc. (NYSE: CMRE) will announce its Q2 2022 financial results on July 28, 2022, before market opens. A conference call hosted by the management team is scheduled for the same day at 10:00 a.m. ET to discuss the results. Participants can join via specific dial-in numbers and a live webcast will also be available on the company’s website. Costamare, a key player in the international shipping industry, operates a fleet of 76 containerships and 46 dry bulk vessels.

Costamare Inc. (CMRE) has declared cash dividends across its preferred stock and common stock. The preferred stock dividends are as follows: $0.476563 for Series B, $0.531250 for Series C, $0.546875 for Series D, and $0.554688 for Series E, all payable on July 15, 2022. Additionally, a common stock dividend of $0.115 is scheduled for payment on August 8, 2022, for the quarter ending June 30, 2022. The Board of Directors' discretion on future dividends will depend on financial health, cash flow, and market conditions.

Costamare Inc. (NYSE: CMRE) has successfully closed a 5-year syndicated loan facility of up to $500 million. This refinancing will cover debt obligations for 17 containerships averaging 14 years in age, ensuring no overlap with the maturity of existing debt for 16 of these vessels. The facility was oversubscribed and is anticipated to be fully drawn down by the end of Q2 2022. CFO Gregory Zikos noted that the new loan will significantly lower funding costs, with expected net cash inflow of around $200 million post-repayment of current obligations.

Costamare Inc. (NYSE: CMRE) reported a remarkable financial performance for Q1 2022, with net income reaching $115.4 million ($0.93 per share), a significant increase from $60.5 million ($0.49 per share) in Q1 2021. Adjusted net income also rose to $104.5 million ($0.84 per share) versus $38 million ($0.31 per share) year-over-year. Liquidity improved to $644 million, and the company fully employed its containership fleet throughout 2022, securing over 90% capacity for 2023. New financing agreements total $160.5 million, with a special dividend of $0.50 per share declared on April 1, 2022.

Costamare Inc. (CMRE) will release its financial results for Q1 2022 before market opens on May 5, 2022. A conference call is scheduled for the same day at 8:30 a.m. ET, where management will discuss the results. Participants can join by calling 1-844-887-9405 (US) or +1-412-317-9258 (international). A replay will be accessible until May 12, 2022. Costamare operates a fleet of 76 containerships and 46 dry bulk vessels, totaling approximately 557,000 TEU and 2,493,500 DWT capacity, respectively.

Costamare Inc. (NYSE: CMRE) has declared cash dividends for its preferred stocks: $0.476563 (Series B), $0.531250 (Series C), $0.546875 (Series D), and $0.554688 (Series E), payable on April 18, 2022. The common stock will receive a quarterly dividend of $0.115, alongside a special dividend of $0.50, both payable on May 5, 2022. The decision for future dividends will depend on the Company’s earnings and financial condition, amidst global economic circumstances.

Costamare Inc. (NYSE: CMRE) has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2021, with the U.S. Securities and Exchange Commission. The report, which includes the Company's audited financial statements, can be accessed on Costamare's website. Stockholders may request a free hard copy by contacting the investor relations manager. The Company operates one of the leading fleets of containerships and dry bulk vessels in the industry, boasting 82 containerships and 46 dry bulk vessels, with ongoing developments in its fleet.