Costamare Inc. Announces Latest Dividends for Investors
Costamare Inc. Announces Latest Dividends for Investors
Costamare Inc. (NYSE: CMRE) recently declared significant cash dividends, providing an attractive benefit to both preferred and common stockholders. Among the announced dividends, the company revealed a payment of US $0.476563 per share on its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock. Additionally, shareholders can expect a US $0.531250 dividend per share for the 8.50% Series C Cumulative Redeemable Perpetual Preferred Stock, and US $0.546875 per share for the 8.75% Series D Cumulative Redeemable Perpetual Preferred Stock. These payments reflect the company’s commitment to rewarding its investors even in changing market conditions.
Details of the Quarterly Dividends
The dividend timeline is crucial for investors to note. The dividends for the Series B, C, and D Preferred Stocks will be compensated for the period spanning from July 15 to October 14 of the current year. Payment is scheduled for October 15 to all holders recorded by October 11. Furthermore, Costamare declared a quarterly dividend of US $0.115 per share on its common stock for the quarter ending September 30. This dividend will be payable on November 6 to those holders on record by October 21.
Insights into the Company's Financial Decisions
Costamare's decision to declare dividends is not made lightly. The payment is contingent upon the discretion of the Board of Directors, who considers several critical factors. Among these are the company’s earnings, overall financial condition, cash needs, and the current access to debt or equity financing. Their evaluation process incorporates potential constraints imposed by existing and future debt agreements, as well as global economic trends.
Understanding Costamare Inc.
With a rich history spanning 50 years in the shipping sector, Costamare Inc. is recognized as a leading provider of containerships and dry bulk vessels for charter. Currently, the company boasts a fleet of 68 containerships, collectively offering an impressive capacity of approximately 513,000 TEU, complemented by 38 owned dry bulk vessels with a total capability of about 2,830,000 DWT, including a vessel awaiting sale. The organization operates through various avenues, including dry bulk vessel charters, contracts of affreightment, and forward freight agreements. Their leasing business also provides third-party financing options.
Trading Information for Investors
Investors should note that Costamare Inc.’s common stock trades under the ticker symbol “CMRE,” as well as the preferred stocks trading under “CMRE PR B,” “CMRE PR C,” and “CMRE PR D” on the New York Stock Exchange. This structure supports a diverse investment portfolio for those interested in the maritime economy.
Frequently Asked Questions
What dividends did Costamare Inc. declare recently?
Costamare Inc. declared dividends on its preferred stocks and common stock, including $0.476563 for Series B, $0.531250 for Series C, and $0.546875 for Series D preferred stocks, as well as $0.115 for common stock.
When will the dividends be paid?
The dividends for the preferred stocks will be paid on October 15, and the dividend for the common stock is scheduled for November 6.
Who will receive these dividends?
Shareholders who are on record by October 11 for preferred stocks and by October 21 for common stock will be eligible for the dividends.
What factors affect the dividend declarations?
The Board of Directors considers the company’s earnings, cash needs, financial condition, and access to financing when declaring dividends.
How many vessels does Costamare Inc. operate?
Costamare Inc. operates a fleet of 68 containerships and 38 dry bulk vessels, showcasing a significant presence in the shipping industry.
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