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

Rhea-AI Summary

Costamare Inc. (NYSE: CMRE) has declared cash dividends for preferred and common stock. The Series B, C, D, and E Preferred Stocks will pay dividends of $0.476563, $0.531250, $0.546875, and $0.554688 per share, respectively, for the period from July 15 to October 14, 2020, payable on October 15, 2020. Additionally, a $0.10 quarterly dividend on common stock for the quarter ended September 30, 2020, will be paid on November 5, 2020. Dividend declarations depend on the company's financial health and market conditions.

Positive

• Dividends declared for preferred stocks, enhancing shareholder income.
• Common stock dividend of $0.10 per share adds value for common shareholders.

Negative

• Dividend payments are subject to the company's financial condition and cash requirements, indicating potential uncertainty.

MONACO, Oct. 02, 2020 (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 July 15, 2020, to October 14, 2020. The dividend will be paid on October 15, 2020 to all holders of record as of October 14, 2020 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 $0.10 per share for the quarter ended September 30, 2020. The dividend for the common stock is payable on November 5, 2020, to holders of record of common stock as of October 20, 2020.

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 46 years of history in the international shipping industry and a fleet of 73 containerships, with a total capacity of approximately 533,000 TEU, including four newbuild containerships currently under construction. Ten of our containerships have been acquired pursuant to the Framework Deed with York 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” and the Company’s Results for the First Quarter ended March 31, 2020 on Form 6-K (filed on May 11, 2020 with the SEC) under the caption “Risk Factor Update”.

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 is the dividend amount for Costamare's preferred stocks?

Costamare has declared dividends of $0.476563 for Series B, $0.531250 for Series C, $0.546875 for Series D, and $0.554688 for Series E Preferred Stock.

When will Costamare pay its common stock dividend?

The common stock dividend of $0.10 per share will be paid on November 5, 2020.

What is the record date for Costamare's preferred stock dividends?

The record date for the preferred stock dividends is October 14, 2020.

What factors influence Costamare's dividend declarations?

The Board of Directors considers the company's earnings, financial condition, cash requirements, and market conditions when declaring dividends.