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. (NYSE: CMRE) is a prominent international owner and provider of containerships and dry bulk vessels, headquartered in Athens, Greece. Established under Greek and Marshall Islands jurisdiction, Costamare is a significant player in the maritime industry, offering a comprehensive range of charter services to some of the world's leading liner companies.
Costamare's core business revolves around the transportation of containerized and dry bulk cargoes. The company's extensive fleet includes high-standard vessels such as Cosco Guangzhou, Cosco Ningbo, Cosco Yantian, Vantage, Valor, Valiant, and Maersk Kobe, among others. These vessels are chartered to ocean carriers that prioritize safety and reliability, ensuring the seamless movement of goods across the globe.
The company generates a majority of its revenue from the United States, reflecting its strong market presence and operational efficiency. Recent achievements highlight Costamare's commitment to growth and innovation. The company has been actively involved in vessel acquisitions and disposals, continuously modernizing its fleet to meet the evolving demands of the maritime industry.
Financially, Costamare maintains a robust position with significant cash flows from its operating activities. The company has successfully managed to keep several of its vessels debt-free, enhancing its financial stability and investment potential. Key financial figures and updates are regularly disclosed, with detailed reconciliations of net income to adjusted net income and adjusted earnings per share available for review.
Costamare's senior management, including Chief Financial Officer Gregory Zikos and Business Development lead Konstantinos Tsakalidis, play pivotal roles in steering the company's strategic direction. Their expertise and vision are critical to maintaining Costamare's leading position in the maritime sector.
For investors and stakeholders seeking the latest updates and relevant information about Costamare Inc., the company frequently announces dividend distributions and conducts detailed conference calls to discuss its operational and financial performance.
Contact Information:
Costamare Inc., Monaco
Tel: (+377) 93 25 09 40
Email: ir@costamare.com
Costamare Inc. (NYSE: CMRE) reported Q3 2024 financial results with Net Income of $75.5 million ($0.63 per share) and Adjusted Net Income of $80.7 million ($0.68 per share). The company maintains strong liquidity of $1,019.2 million. The containership fleet is 100% fixed for 2024 and 94% for 2025, with contracted revenues of $2.3 billion. Through Costamare Bulkers Inc., the company operates 56 dry bulk vessels. Recent activities include agreements to acquire three dry bulk vessels and the sale of three vessels. The company declared a dividend of $0.115 per common share.
Costamare (NYSE:CMRE) has scheduled its Third Quarter 2024 financial results release for Friday, November 1, 2024, before market opens. The company will host a conference call and webcast at 8:30 a.m. ET on the same day to discuss the results. Conference call participants can dial 1-844-887-9405 (US), 0808-238-9064 (UK), or +1-412-317-9258 (international). A replay will be available until November 8, 2024. Additionally, a simultaneous live webcast will be accessible through the company's website.
Costamare Inc. (NYSE: CMRE), an international owner and provider of containerships and dry bulk vessels for charter, held its virtual annual meeting of stockholders on October 3, 2024. At the meeting, two Class II directors were elected: Gregory Zikos and Vagn Lehd Møller. They will hold office for a term ending at the annual meeting of stockholders in 2027 and until their successors have been duly elected and qualified.
Additionally, stockholders ratified the appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A. as the Company's independent auditors for the fiscal year ending December 31, 2024.
Costamare Inc. (NYSE: CMRE) has announced quarterly dividend declarations for its preferred and common stock. For the preferred stock, the company will pay:
- US $0.476563 per share on Series B (NYSE: CMRE PR B)
- US $0.531250 per share on Series C (NYSE: CMRE PR C)
- US $0.546875 per share on Series D (NYSE: CMRE PR D)
These dividends cover the period from July 15, 2024, to October 14, 2024, and will be paid on October 15, 2024, to holders of record as of October 11, 2024.
For the common stock, a quarterly dividend of US $0.115 per share has been declared for the quarter ended September 30, 2024. This dividend is payable on November 6, 2024, to holders of record as of October 21, 2024.
The company notes that dividend declarations are subject to Board discretion and depend on various factors including earnings, financial condition, and cash availability.
Costamare (NYSE: CMRE) has announced its Q2 2024 and six-month financial results, reporting a net income of $91.3 million ($0.77 per share). The company ended Q2 with liquidity of $1.118 billion.
Significant updates include the full redemption of its 8.875% Series E preferred stock, saving $10.1 million annually. The containership fleet is fully employed for 2024, securing $2.4 billion in contracted revenues. New fixtures for seven containerships are expected to generate $224 million in incremental revenues.
The company sold the 2011-built vessel 'Adventure' for $7.1 million and agreed to sell the 2009-built vessel 'Oracle' with expected proceeds of $4 million. Costamare acquired two 2012-built Capesize vessels.
New debt financing of $15.8 million was secured to refinance three dry bulk vessels. The company's dry bulk platform manages 54 vessels, and the leasing platform Neptune Maritime Leasing has funded 25 shipping assets worth $285 million.
Dividends of $0.115 per common share and various amounts for preferred shares were declared, totaling $30 million available for common share repurchases and $150 million for preferred shares.
Costamare Inc. (NYSE:CMRE) has announced the schedule for its Second Quarter 2024 financial results release and conference call. The company will release its results for the quarter ended June 30, 2024, before the market opens on Wednesday, July 31, 2024. Following the release, Costamare's management team will host a conference call at 8:30 a.m. ET on the same day to discuss the financial results.
Participants can join the call by dialing specific numbers for the US, UK, or international callers. A replay of the conference call will be available until August 7, 2024. Additionally, a live webcast of the call will be accessible through the Costamare Inc. website.
Costamare Inc. (NYSE: CMRE) has completed the full redemption of its 4,574,100 outstanding shares of 8.875% Series E Cumulative Redeemable Perpetual Preferred Stock. The redemption price was set at $25.00 per share, plus accrued and unpaid dividends up to July 15, 2024. Prior to the redemption, the company paid a quarterly dividend of $0.554688 per share on July 15, 2024, to holders of record as of July 12, 2024. The redemption was funded with cash on hand. Following this action, no Series E Preferred Stock remains outstanding, and all associated rights have ceased, except for the holders' right to receive the redemption price. The New York Stock Exchange has suspended trading of the Series E Preferred Stock and initiated the delisting process.
Costamare announced its 2024 annual meeting of stockholders, set for October 3, 2024. The meeting will be held virtually. Stockholders of record by August 8, 2024, can vote and participate. Meeting details and the company's proxy statement will be sent around August 9, 2024. Costamare, listed on NYSE under the symbol CMRE, is engaged in owning and chartering containerships and dry bulk vessels.
Costamare (NYSE: CMRE) has declared cash dividends on its preferred and common stock. The dividends are $0.476563 per share for its 7.625% Series B, $0.531250 for its 8.50% Series C, $0.546875 for its 8.75% Series D, and $0.554688 for its 8.875% Series E preferred stocks. These dividends cover the period from April 15, 2024, to July 14, 2024. Payment will be made on July 15, 2024, to shareholders on record as of July 12, 2024. Notably, Series E shares will be redeemed at $25.00 per share on July 15, 2024. Additionally, Costamare declared a $0.115 per share dividend on its common stock for Q2 2024, payable on August 6, 2024, to shareholders on record as of July 19, 2024. The board's discretion, company earnings, financial conditions, and global economic factors influence dividend declarations.
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,
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