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

Rhea-AI Summary

Costamare Inc. (CMRE) has declared cash dividends across its preferred stock and common stock. The preferred stock 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, all payable on July 15, 2022. Additionally, a common stock dividend of $0.115 is scheduled for payment on August 8, 2022, for the quarter ending June 30, 2022. The Board of Directors' discretion on future dividends will depend on financial health, cash flow, and market conditions.

Positive

• Declared cash dividends for preferred shares and common stock, indicating a return of income to shareholders.
• Preferred stock dividends range from $0.476563 to $0.554688, showcasing healthy dividend distribution.

Negative

• Future dividend declarations are subject to Board discretion and heavily rely on financial conditions and market factors.

MONACO, July 01, 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 April 15, 2022, to July 14, 2022. The dividend will be paid on July 15, 2022 to all holders of record as of July 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 June 30, 2022. The dividend for the common stock is payable on August 8, 2022, to holders of record of common stock as of July 21, 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 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 46 dry bulk vessels with a total capacity of approximately 2,493,500 DWT (including one vessel that we have agreed to sell). 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 Inc. (CMRE) preferred stocks?

The declared dividends 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 the common stock of Costamare Inc. be paid?

The quarterly dividend of $0.115 for common stock will be paid on August 8, 2022.

What is the record date for Costamare Inc.'s preferred and common stock dividends?

The record date for the preferred stock dividends is July 14, 2022, and for the common stock, it's July 21, 2022.

Are the dividends for Costamare Inc. guaranteed?

No, future dividends depend on the Board's discretion based on the company's earnings and financial situation.