Costamare Inc. (CMRE) to Distribute 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 3.2%. The ex-dividend date is Tuesday, October 20th.

Costamare has increased its dividend payment 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 Price Performance

Costamare stock opened at $15.42 on Friday. 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 company’s fifty day moving average price is $15.09 and its 200 day moving average price is $15.80. The stock has a market capitalization of $1.86 billion, a P/E ratio of 5.86 and a beta of 1.07. Costamare has a 1 year low of $10.84 and a 1 year high of $18.06.

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

Insider Activity at Costamare

In other news, CFO Grigorios Zikos sold 59,840 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $15.34, for a total transaction of $917,945.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 23.20% of the company’s stock.

Institutional Trading of Costamare

A number of large investors have recently bought and sold shares of the business. Pinnacle Holdings LLC acquired a new stake in shares of Costamare during the second quarter worth about $27,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Costamare in the second quarter valued at about $36,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Costamare by 652.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,627 shares of the shipping company’s stock worth $41,000 after acquiring an additional 2,278 shares during the period. IFP Advisors Inc lifted its position in Costamare by 1,221.5% in the second quarter. IFP Advisors Inc now owns 2,947 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 2,724 shares during the period. Finally, Allworth Financial LP boosted its holdings in Costamare by 517.9% in the 2nd quarter. Allworth Financial LP now owns 5,975 shares of the shipping company’s stock valued at $84,000 after purchasing an additional 5,008 shares in the last quarter. Institutional investors and hedge funds 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.