Costamare Inc. Declares Quarterly Dividend on Its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock
October 01 2013 - 3:05PM
Marketwired
Costamare Inc. (the "Company") (NYSE: CMRE) has declared a cash
dividend of $0.3654 per share on its 7.625% Series B Cumulative
Redeemable Perpetual Preferred Stock (the "Series B Preferred
Stock") (NYSE: CMRE PR B) for the period from August 6, 2013 to
October 14, 2013. The dividend will be paid on October 15, 2013 to
all Series B Preferred Stock holders of record as of October 11,
2013.
The Company has 2,000,000 shares of Series B Preferred Stock
outstanding as of today. This is the first cash dividend the
Company has declared since the commencement of trading of its
Series B Preferred Stock on the New York Stock Exchange.
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 38 years
of history in the international shipping industry and a fleet of 61
containerships, with a total capacity in excess of 350,000 TEU,
including eight newbuild containerships on order. Five of our
containerships, including two newbuilds, have been acquired
pursuant to the Framework Agreement with York Capital Management by
vessel-owning joint venture entities in which we hold a 49% equity
interest. The Company's common stock and Series B Preferred Stock
trade on the New York Stock Exchange under the symbols "CMRE" and
"CMRE PR B", 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".
Contacts: Company: Gregory Zikos Chief Financial
Officer Konstantinos Tsakalidis Business Development Costamare Inc.
Athens, Greece Tel: (+30) 210-949-0000 Email: Email Contact
Investor Relations: Gus Okwu Allison & Partners, New
York Telephone: (+1) 646-428-0638 Email: Email Contact
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