Costamare Stock Price, News & Analysis

Costamare Inc. (NYSE: CMRE) held its annual meeting in Monaco on October 6, 2022, where two Class III directors, Konstantinos Konstantakopoulos and Charlotte Stratos, were elected, each serving until 2025. Additionally, stockholders ratified Ernst & Young (Hellas) as the independent auditors for the fiscal year ending December 31, 2022. Costamare boasts a fleet of 76 containerships and 45 dry bulk vessels, totaling significant capacities. The company has a 48-year history in international shipping, highlighting its established position in the market.

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.

Costamare Inc. (NYSE: CMRE) has announced its annual stockholders' meeting to be held on October 6, 2022, in Monaco. Stockholders of record as of August 18, 2022, will be eligible to vote. The meeting is planned to be in person, but alternative arrangements may be made in case of ongoing health concerns related to COVID-19. This company specializes in providing containerships and dry bulk vessels for charter, boasting a fleet of 76 containerships and 45 dry bulk vessels, showcasing a significant presence in the international shipping industry.

Costamare Inc. (NYSE: CMRE) reported record Q2 2022 financial results, with a net income of $114.1 million ($0.92/share), up from $82.8 million ($0.67/share) in Q2 2021. Adjusted net income increased to $118.6 million ($0.95/share) from $58.3 million ($0.47/share). Liquidity surged to $854.1 million. The company closed a $500 million syndicated loan facility, enhancing cash flow while reducing financing costs. A share repurchase program saw 4.7 million shares bought back. The fleet is fully employed for the rest of the year, with 95% fixed for 2023.

Costamare Inc. (NYSE: CMRE) will announce its Q2 2022 financial results on July 28, 2022, before market opens. A conference call hosted by the management team is scheduled for the same day at 10:00 a.m. ET to discuss the results. Participants can join via specific dial-in numbers and a live webcast will also be available on the company’s website. Costamare, a key player in the international shipping industry, operates a fleet of 76 containerships and 46 dry bulk vessels.

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.

Costamare Inc. (NYSE: CMRE) has successfully closed a 5-year syndicated loan facility of up to $500 million. This refinancing will cover debt obligations for 17 containerships averaging 14 years in age, ensuring no overlap with the maturity of existing debt for 16 of these vessels. The facility was oversubscribed and is anticipated to be fully drawn down by the end of Q2 2022. CFO Gregory Zikos noted that the new loan will significantly lower funding costs, with expected net cash inflow of around $200 million post-repayment of current obligations.

Costamare Inc. (NYSE: CMRE) reported a remarkable financial performance for Q1 2022, with net income reaching $115.4 million ($0.93 per share), a significant increase from $60.5 million ($0.49 per share) in Q1 2021. Adjusted net income also rose to $104.5 million ($0.84 per share) versus $38 million ($0.31 per share) year-over-year. Liquidity improved to $644 million, and the company fully employed its containership fleet throughout 2022, securing over 90% capacity for 2023. New financing agreements total $160.5 million, with a special dividend of $0.50 per share declared on April 1, 2022.

Costamare Inc. (CMRE) will release its financial results for Q1 2022 before market opens on May 5, 2022. A conference call is scheduled for the same day at 8:30 a.m. ET, where management will discuss the results. Participants can join by calling 1-844-887-9405 (US) or +1-412-317-9258 (international). A replay will be accessible until May 12, 2022. Costamare operates a fleet of 76 containerships and 46 dry bulk vessels, totaling approximately 557,000 TEU and 2,493,500 DWT capacity, respectively.