Costamare Inc. Declares Quarterly Dividend on Its Preferred and Common Stock
Thursday, Jan 2, 2025 7:00 am ET
3min read Costamare Inc., a leading provider of containerships for charter, has announced its quarterly dividend for both its preferred and common stock. The company declared a dividend of $0.476563 per share for its Series B Preferred Stock and $0.46 per share for its common stock. These dividends will be paid out on the following dates:
* Preferred Stock Dividend: April 15, 2024
* Common Stock Dividend: April 17, 2024
Costamare's preferred stock dividend is payable quarterly in arrears on the 15th day of January, April, July, and October of each year, while the common stock dividend is payable quarterly in arrears on the 17th day of April, July, October, and January of each year. The dividends are paid out of amounts legally available therefor at a rate equal to 7.625% per annum of the liquidation preference $25.00 per share for the preferred stock and at the discretion of the board of directors for the common stock.
Costamare's dividend policy aligns with its long-term growth strategy by providing shareholders with a stable and predictable income stream while reinvesting in the business to drive growth. The company's dividend payout ratio for the common stock is 15.29%, indicating that it is distributing a consistent portion of its earnings to shareholders while retaining a significant portion for reinvestment in the business.
The company's strong financial performance and cash flow generation have enabled it to maintain and potentially increase its dividend payouts. In the last 12 months, Costamare generated revenue of $2.03 billion, net income of $357.52 million, and free cash flow of $309.12 million. The company's operating margin improved to 21.51%, and its free cash flow margin was 15.22%.
CMRE Debt-to-Equity Ratio, Total Revenue...
| Name |
|---|
| Date |
| Debt-to-Equity Ratio |
| Total Revenue(USD) |
| Net Income(USD) |
| ROE(Average)% |
| Diluted EPS(USD) |
| CostamareCMRE |
| 2024 Q3 |
| 0.85 |
| 544.64M |
| 78.87M |
| 10.71 |
| 0.63 |
Costamare's dividend payout compares favorably with its peers in the shipping industry. While the company's dividend yield of 3.58% is lower than some of its peers, its payout ratio is more conservative, indicating a balance between income and growth. The company's strong financial performance and growth prospects make it an attractive investment opportunity for income-oriented investors.
In conclusion, Costamare Inc.'s quarterly dividend announcement demonstrates the company's commitment to providing shareholders with a stable and predictable income stream while reinvesting in the business to drive growth. The company's strong financial performance and cash flow generation, along with its conservative dividend payout, make it an attractive investment opportunity for income-oriented investors.
