Costamare Inc. Declares Quarterly Dividend on Its Preferred and Common Stock
01 July 2024 - 10:31PM
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,
2024 to July 14, 2024. The dividend will be paid on July 15, 2024
to all holders of record as of July 12, 2024 of Series B Preferred
Stock, Series C Preferred Stock, Series D Preferred Stock and
Series E Preferred Stock. The dividend on the Series E Preferred
Stock will be paid immediately prior to the previously announced
redemption of all of the Company’s outstanding shares of Series E
Preferred Stock (the “Redemption”) at a redemption price of $25.00
per share on July 15, 2024. Upon the Redemption, no shares of
Series E Preferred Stock will remain outstanding.
The Company has also declared a quarterly
dividend on its common stock of US $0.115 per share for the quarter
ended June 30, 2024. The dividend for the common stock is payable
on August 6, 2024, to holders of record of common stock as of July
19, 2024.
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 50 years of history in the international
shipping industry and a fleet of 68 containerships, with a total
capacity of approximately 513,000 TEU and 39 dry bulk vessels with
a total capacity of approximately 2,900,000 DWT (including one
vessel that we have agreed to sell and two vessels we have agreed
to acquire). The Company also has a dry bulk operating platform
which charters in/out dry bulk vessels, enters into contracts of
affreightment, forward freight agreements and may also utilize
hedging solutions. The Company participates in a leasing business
that provides financing to third-party owners. 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
Costamare (NYSE:CMRE)
Historical Stock Chart
From Oct 2024 to Nov 2024
Costamare (NYSE:CMRE)
Historical Stock Chart
From Nov 2023 to Nov 2024