Welcome to our dedicated page for Costamare news (Ticker: CMRE), a resource for investors and traders seeking the latest updates and insights on Costamare stock.
Costamare Inc. (NYSE: CMRE) is a prominent international owner and provider of containerships and dry bulk vessels, headquartered in Athens, Greece. Established under Greek and Marshall Islands jurisdiction, Costamare is a significant player in the maritime industry, offering a comprehensive range of charter services to some of the world's leading liner companies.
Costamare's core business revolves around the transportation of containerized and dry bulk cargoes. The company's extensive fleet includes high-standard vessels such as Cosco Guangzhou, Cosco Ningbo, Cosco Yantian, Vantage, Valor, Valiant, and Maersk Kobe, among others. These vessels are chartered to ocean carriers that prioritize safety and reliability, ensuring the seamless movement of goods across the globe.
The company generates a majority of its revenue from the United States, reflecting its strong market presence and operational efficiency. Recent achievements highlight Costamare's commitment to growth and innovation. The company has been actively involved in vessel acquisitions and disposals, continuously modernizing its fleet to meet the evolving demands of the maritime industry.
Financially, Costamare maintains a robust position with significant cash flows from its operating activities. The company has successfully managed to keep several of its vessels debt-free, enhancing its financial stability and investment potential. Key financial figures and updates are regularly disclosed, with detailed reconciliations of net income to adjusted net income and adjusted earnings per share available for review.
Costamare's senior management, including Chief Financial Officer Gregory Zikos and Business Development lead Konstantinos Tsakalidis, play pivotal roles in steering the company's strategic direction. Their expertise and vision are critical to maintaining Costamare's leading position in the maritime sector.
For investors and stakeholders seeking the latest updates and relevant information about Costamare Inc., the company frequently announces dividend distributions and conducts detailed conference calls to discuss its operational and financial performance.
Contact Information:
Costamare Inc., Monaco
Tel: (+377) 93 25 09 40
Email: ir@costamare.com
On June 14, 2024, Costamare announced the redemption of all outstanding shares of its Series E Cumulative Redeemable Perpetual Preferred Stock, which carries an 8.875% dividend rate. The redemption will occur on July 15, 2024, at a price of $25.00 per share plus any accrued and unpaid dividends up to the redemption date. Currently, there are 4,574,100 outstanding shares of Series E Preferred Stock. After the redemption, these shares will no longer be outstanding, terminating all associated rights except the right to receive the redemption payment. The redemption will be managed through The Depository Trust Company and facilitated by Equiniti Trust Company,
Costamare Inc. reported unaudited financial results for Q1 2024, with Net Income available to common stockholders of $94.2 million and Adjusted Net Income of $75.2 million. Liquidity stood at $1.1 billion. Containership fleet contracted revenues totaled $2.3 billion. The company concluded vessel sales and acquisitions. Neptune Maritime Leasing platform shows steady growth. Dividends were declared for common and preferred stock. Financial performance improved compared to Q1 2023.
Costamare Inc. (NYSE:CMRE) will release its first quarter 2024 results on May 10, 2024, before the market opens in New York. A conference call, scheduled for 8:30 a.m. ET on the same day, will discuss the financial results. Participants can join the call by dialing in using the provided numbers. A replay of the call will be available until May 17, 2024. Additionally, a live webcast will be accessible through Costamare Inc.'s website.