Costamare Inc. (CMRE) to Issue Quarterly Dividend of $0.12 on November 5th

Costamare Inc. (NYSE:CMRE) declared a quarterly dividend on Thursday, October 1st. Stockholders of record on Tuesday, October 20th will be paid a dividend of $0.1250 per share by the shipping company on Thursday, November 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, October 20th.

Costamare has raised its dividend by an average of 0.5% per year over the last three years. Costamare has a payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings.

Costamare Stock Down 2.5%

Costamare stock opened at $13.93 on Friday. Costamare has a twelve month low of $11.08 and a twelve month high of $18.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.57 and a current ratio of 1.61. The firm has a market cap of $1.68 billion, a PE ratio of 5.30 and a beta of 1.07. The firm’s 50 day moving average price is $15.04 and its two-hundred day moving average price is $15.66.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Monday, July 27th. The shipping company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $196.24 million for the quarter, compared to analyst estimates of $193.16 million. Costamare had a net margin of 39.66% and a return on equity of 15.11%.

Insider Transactions at Costamare

In other Costamare news, CFO Grigorios Zikos sold 59,840 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $15.34, for a total value of $917,945.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 23.20% of the company’s stock.

Institutional Investors Weigh In On Costamare

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pinnacle Holdings LLC acquired a new stake in shares of Costamare in the second quarter valued at approximately $27,000. Integrated Wealth Concepts LLC bought a new stake in Costamare during the second quarter worth about $36,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Costamare by 652.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,627 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 2,278 shares in the last quarter. IFP Advisors Inc increased its position in Costamare by 1,221.5% during the 2nd quarter. IFP Advisors Inc now owns 2,947 shares of the shipping company’s stock worth $41,000 after purchasing an additional 2,724 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Costamare by 232.4% during the 3rd quarter. GAMMA Investing LLC now owns 5,753 shares of the shipping company’s stock valued at $85,000 after acquiring an additional 4,022 shares in the last quarter. Institutional investors own 58.08% of the company’s stock.

About Costamare

Costamare Inc is a global shipping company that owns and operates containerships and dry bulk vessels. Its containership fleet transports manufactured goods, consumer products and other containerized cargo through international liner shipping networks, while its dry bulk vessels carry commodities such as grains, coal and other bulk materials.

The company typically employs a chartering strategy under which its vessels are leased to shipping companies and other customers through time-charter and voyage arrangements.