Costamare Inc. Declares Quarterly Dividend on Its Preferred and Common Stock
April 03 2023 - 3:03PM
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 January 15,
2023, to April 14, 2023. The dividend will be paid on April 17,
2023 to all holders of record as of April 14, 2023 of Series B
Preferred Stock, Series C Preferred Stock, Series D Preferred Stock
and Series E Preferred Stock.
The Company has also declared a quarterly
dividend on its common stock of US $0.115 per share for the quarter
ended March 31, 2023. The dividend for the common stock is payable
on May 5, 2023, to holders of record of common stock as of April
19, 2023.
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 49 years of history in the international
shipping industry and a fleet of 71 containerships, with a total
capacity of approximately 524,000 TEU and 44 dry bulk vessels with
a total capacity of approximately 2,404,000 DWT (including one
vessel that we have agreed to sell). Four of our containerships
have been acquired pursuant to the Framework Deed with York by
vessel-owning joint venture companies in which we hold a minority
equity interest. The Company also has a dry bulk operating platform
which charters in/out dry bulk vessels, enters into contracts of
affreightment and utilizes forward freight agreements and other
derivative instruments as hedging solutions and to take a position
on the market. 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
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