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

Rhea-AI Summary

Costamare Inc. (NYSE: CMRE) has declared dividends for various preferred stocks and its common stock. Preferred stock dividends include:

• $0.476563 for Series B
• $0.531250 for Series C
• $0.546875 for Series D
• $0.554688 for Series E

These dividends are for the period from July 15, 2021, to October 14, 2021, payable on October 15, 2021. Additionally, a common stock dividend of $0.115 per share will be paid on November 5, 2021. The declaration depends on the company’s financial health and future cash flow.

Positive

• Declared preferred stock dividends totaling $0.476563 to $0.554688 per share, enhancing income for preferred shareholders.
• Declared common stock dividend of $0.115 per share, indicating strong cash flow and company confidence.

Negative

• Dividend declarations are subject to the discretion of the Board, raising concerns over sustainability.
• Potential risks associated with future earnings and financial stability as indicated in forward-looking statements.

MONACO, Oct. 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 July 15, 2021, to October 14, 2021. The dividend will be paid on October 15, 2021 to all holders of record as of October 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 September 30, 2021. The dividend for the common stock is payable on November 5, 2021, to holders of record of common stock as of October 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 and 37 dry bulk vessels with a total capacity of approximately 1,910,000 DWT. 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” and the Company’s Results for the Second Quarter and Six-Months Ended June 30, 2021 on Form 6-K (filed on July 28, 2021 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 CMRE's preferred stocks?

The dividend amounts for CMRE'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 CMRE pay its common stock dividend?

The common stock dividend of $0.115 per share will be paid on November 5, 2021.

What is the record date for the dividends declared by Costamare Inc.?

The record date for the dividends on preferred stocks is October 14, 2021, and for the common stock, it is October 20, 2021.

How often does CMRE declare dividends?

Costamare Inc. typically declares dividends quarterly, as indicated by the latest announcement.