Costamare Inc. Declares Quarterly Dividend on Its Preferred and Common Stock

Rhea-AI Summary

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.

Positive

• Dividends declared reflect strong cash flow and shareholder returns.
• Preferred stock dividends provide a steady income stream for investors.

Negative

• Future dividends are subject to the discretion of the Board, affecting predictability.

MONACO, July 01, 2021 (GLOBE NEWSWIRE) -- Costamare Inc. (the “Company”) (NYSE: CMRE) has declared cash dividends of US $0.476563 per share on its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock (the “Series B Preferred Stock”) (NYSE: CMRE PR B), US $0.531250 per share on its 8.50% Series C Cumulative Redeemable Perpetual Preferred Stock (the “Series C Preferred Stock”) (NYSE: CMRE PR C), US $0.546875 per share on its 8.75% Series D Cumulative Redeemable Perpetual Preferred Stock (the “Series D Preferred Stock”) (NYSE: CMRE PR D) and US $0.554688 per share on its 8.875% Series E Cumulative Redeemable Perpetual Preferred Stock (the “Series E Preferred Stock”) (NYSE: CMRE PR E). The dividend for the Series B Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock and the Series E Preferred Stock is for the period from April 15, 2021, to July 14, 2021. The dividend will be paid on July 15, 2021 to all holders of record as of July 14, 2021 of Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock.

The Company has also declared a quarterly dividend on its common stock of US $0.115 per share for the quarter ended June 30, 2021. The dividend for the common stock is payable on August 5, 2021, to holders of record of common stock as of July 20, 2021.

The declaration of a dividend is subject to the discretion of the Board of Directors of the Company, and accordingly will depend on, among other things, the Company’s earnings, financial condition and cash requirements and availability, the Company’s ability to obtain debt and equity financing on acceptable terms as contemplated by the Company’s growth strategy, the restrictive covenants in the Company’s existing and future debt instruments and global economic conditions.

About Costamare Inc.

Costamare Inc. is one of the world’s leading owners and providers of containerships for charter. The Company has 47 years of history in the international shipping industry and a fleet of 81 containerships, with a total capacity of approximately 581,000 TEU (including two secondhand vessels that we have agreed to acquire and two vessels that we have agreed to sell) and 28 dry bulk vessels with a total capacity of approximately 1,496,000 DWT (including 25 secondhand vessels that we have agreed to acquire). Five of our containerships have been acquired pursuant to the Framework Deed with York Capital Management by vessel-owning joint venture entities in which we hold a minority equity interest. The Company’s common stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock trade on the New York Stock Exchange under the symbols “CMRE”, “CMRE PR B”, “CMRE PR C”, “CMRE PR D” and “CMRE PR E”, respectively.

Forward-Looking Statements

This press release contains “forward-looking statements”. In some cases, you can identify these statements by forward-looking words such as “believe”, “intend”, “anticipate”, “estimate”, “project”, “forecast”, “plan”, “potential”, “may”, “should”, “could” and “expect” and similar expressions. These statements are not historical facts but instead represent only the Company’s belief regarding future results, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Company’s Annual Report on Form 20-F (File No. 001-34934) under the caption “Risk Factors”.

Company Contacts:
Gregory Zikos - Chief Financial Officer
Konstantinos Tsakalidis - Business Development, Investor Relations

Costamare Inc., Monaco
Tel: (+377) 93 25 09 40
Email: ir@costamare.com

 

FAQ

What are the dividends declared by Costamare Inc. for CMRE stocks?

Costamare Inc. declared dividends of $0.476563 for Series B, $0.531250 for Series C, $0.546875 for Series D, and $0.554688 for Series E. A common stock dividend of $0.115 will also be paid.

When will Costamare Inc. pay dividends for CMRE?

Dividends for preferred stocks will be paid on July 15, 2021, and the common stock dividend will be paid on August 5, 2021.

What factors influence the dividend declaration for CMRE?

The dividend declaration depends on the company’s earnings, financial condition, cash requirements, and market conditions.

What is the record date for the common stock dividend of CMRE?

The record date for the common stock dividend is July 20, 2021.