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

Rhea-AI Summary

Costamare Inc. (NYSE: CMRE) declared cash dividends for its preferred and common stock. The 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 preferred stocks, covering the period from July 15 to October 14, 2022, payable on October 17, 2022. Additionally, a common stock dividend of $0.115 per share is set for November 7, 2022. The declaration of dividends is subject to the Board's discretion, considering the company's earnings and financial condition.

Positive

• Dividends declared for preferred stocks provide consistent income for shareholders.
• Quarterly dividend of $0.115 on common stock indicates ongoing shareholder returns.

Negative

• Dividend payments depend on earnings and financial conditions, posing potential uncertainty.
• Future dividend declarations are subject to economic conditions and financing ability.

MONACO, Oct. 03, 2022 (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, 2022, to October 14, 2022. The dividend will be paid on October 17, 2022 to all holders of record as of October 14, 2022 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 September 30, 2022. The dividend for the common stock is payable on November 7, 2022, to holders of record of common stock as of October 20, 2022.

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 and dry bulk vessels for charter. The Company has 48 years of history in the international shipping industry and a fleet of 76 containerships, with a total capacity of approximately 557,000 TEU (including five vessels that we have agreed to sell) and 45 dry bulk vessels with a total capacity of approximately 2,436,000 DWT. Four 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”.

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 dividend amounts for Costamare's preferred stocks?

The dividends for Costamare's preferred stocks are $0.476563 for Series B, $0.531250 for Series C, $0.546875 for Series D, and $0.554688 for Series E.

When will the dividends for Costamare's preferred stocks be paid?

The dividends for the preferred stocks will be paid on October 17, 2022.

What is the dividend for Costamare's common stock?

Costamare declared a quarterly dividend of $0.115 per share on its common stock.

When is the common stock dividend payment date for Costamare?

The common stock dividend is payable on November 7, 2022.

How does Costamare determine its dividend payments?

Dividends are subject to the Board's discretion and depend on earnings, financial condition, cash requirements, and economic conditions.