Costamare Inc. (NYSE:CMRE) Declares Quarterly Dividend of $0.12

Costamare Inc. (NYSE:CMRE) declared a quarterly dividend on Thursday, October 1st. Stockholders of record on Tuesday, October 20th will be given 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 3.3%. The ex-dividend date of this dividend is Tuesday, October 20th.

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

Costamare Price Performance

NYSE CMRE opened at $15.22 on Friday. The company has a market cap of $1.84 billion, a PE ratio of 5.79 and a beta of 1.07. The firm’s 50 day moving average price is $15.10 and its 200-day moving average price is $15.80. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.57 and a current ratio of 1.61. Costamare has a 52-week low of $10.84 and a 52-week high of $18.06.

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

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Costamare in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

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.