Costamare Stock Price, News & Analysis

Costamare Inc. (NYSE: CMRE) has declared cash dividends for several preferred stocks: $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, 2021. A common stock dividend of $0.115 per share will be paid on August 5, 2021. Record dates are July 14 for preferred stocks and July 20 for common stock. Dividend declarations depend on the company's financial health and market conditions.

Costamare announced the acquisition of 16 dry bulk vessels, ranging from 33,000 to 85,000 DWT with an average age of 10 years. The vessels are operating in the spot market, with two already delivered and the rest expected by January 2022. The acquisition will be funded with cash on hand and supplemented by commercial bank debt, aiming for a leverage of up to 60% of asset value. The move is intended to enhance returns for shareholders, and the existing management platform will oversee the new vessels.

Costamare reported strong Q1 2021 results, with net income rising to $60.5 million and earnings per share at $0.49. A 15% dividend increase to $0.115 per common share is recommended. The company issued €100 million in bonds at a 2.7% coupon and completed around $617 million in vessel transactions this year. Voyage revenue grew 4.4% to $126.7 million, driven by acquisitions. The liquidity stood at $239.8 million, with no significant debt maturities until 2025. Management's outlook remains optimistic due to favorable market conditions and increasing long-term cash flows.

Costamare (NYSE:CMRE) will release its Q1 2021 financial results on June 1, 2021, before the market opens. A conference call is set for the same day at 8:30 a.m. ET to discuss the earnings. Participants can dial in from various locations, with replay options available until June 8, 2021. Costamare operates a fleet of 82 containerships, adding to its longstanding presence in the shipping industry. The company also cautions about the uncertainties related to forward-looking statements that could affect its future results.

Costamare announced the pricing of €100 million unsecured bonds, maturing in 2026, with a 2.70% coupon, set to trade on the Athens Exchange starting May 26, 2021. The net proceeds are allocated for debt repayment, vessel acquisitions, and working capital. This marks a significant milestone as it represents the first shipping bond on the Athens Exchange, highlighting strong demand and diversification of financing sources.

Costamare Inc. (NYSE: CMRE) announced plans to offer up to €100 million in unsecured bonds in Greece. The offering, conducted through its subsidiary Costamare Participations Plc, aims to enhance financial stability and support vessel acquisitions and working capital needs. Proceeds will be allocated to repaying debts, acquiring vessels, and other operational costs. The bonds are unregistered under U.S. securities laws and cannot be sold in the U.S. without compliance. Costamare operates a fleet of 82 containerships, emphasizing its established position in the international shipping industry.

Costamare Inc. (NYSE: CMRE) has acquired York Capital's 60% equity interest in five 11,000 TEU containerships, raising its ownership to 100%. Four of the vessels were built in 2017 and one in 2016. The acquisition, valued at approximately US $335 million, is funded through cash and commercial bank debt with tenors of up to 10 years. The vessels are under long-term charters expiring between 2025 and 2031, providing an average charter duration of 8.9 years.

Costamare Inc. (NYSE: CMRE) declared cash dividends for its preferred and common stock. The dividends are as follows: $0.476563 per share for Series B, $0.531250 for Series C, $0.546875 for Series D, and $0.554688 for Series E, all payable on April 15, 2021. Additionally, a common stock dividend of $0.10 per share will be distributed on May 6, 2021. The payment is subject to company performance and market conditions. Costamare operates a fleet of 77 containerships, reinforcing its position in the shipping industry.

Costamare Inc. (NYSE: CMRE) has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2020, with the U.S. Securities and Exchange Commission. The report, which includes the company’s audited financial statements, is available on its website under the ‘Investors’ section. Costamare operates a fleet of 77 containerships with a total capacity of approximately 555,810 TEU, including future acquisitions. The report outlines forward-looking statements and associated risks, emphasizing uncertainties that may affect actual results.