Costamare Inc. (NYSE:CMRE) Increases Dividend to $0.12 Per Share

Costamare Inc. (NYSE:CMRE) announced a quarterly dividend on Wednesday, July 1st. Stockholders of record on Tuesday, July 21st will be given a dividend of 0.125 per share by the shipping company on Thursday, August 6th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, July 21st. This is a 8.7% increase from Costamare’s previous quarterly dividend of $0.12.

Costamare has increased its dividend by an average of 0.5%per year over the last three years. Costamare has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings.

Costamare Stock Performance

Shares of CMRE opened at $14.03 on Thursday. The company’s 50 day simple moving average is $16.10 and its 200-day simple moving average is $16.38. The firm has a market cap of $1.69 billion, a PE ratio of 5.24 and a beta of 1.06. Costamare has a 12-month low of $9.00 and a 12-month high of $18.06. The company has a current ratio of 1.96, a quick ratio of 1.92 and a debt-to-equity ratio of 0.56.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Wednesday, April 29th. The shipping company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. Costamare had a net margin of 39.93% and a return on equity of 16.42%. The firm had revenue of $199.25 million during the quarter, compared to the consensus estimate of $191.50 million. During the same quarter in the prior year, the firm earned $0.63 EPS. Costamare’s revenue for the quarter was up 5.6% on a year-over-year basis.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Weiss Ratings raised Costamare from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Fearnley Fonds raised Costamare from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Wall Street Zen lowered shares of Costamare from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Costamare Company Profile

Costamare Inc is a leading owner and manager of containerships, specializing in the acquisition, chartering and operation of modern container vessels. The company secures employment for its fleet under a mix of long‐term and short‐term agreements, providing vital capacity to major shipping lines and leveraging fixed-rate charters to support cash flow stability.

Founded in 1974 and headquartered in Athens, Greece, Costamare has cultivated a disciplined approach to fleet renewal, often overseeing newbuild supervision and shipyard coordination to ensure vessels meet performance and environmental standards.