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

Costamare Inc. (NYSE:CMRE) announced 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 annualized dividend and a dividend yield of 3.3%. The ex-dividend date 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% meaning its dividend is sufficiently covered by earnings.

Costamare Price Performance

Shares of NYSE:CMRE traded up $0.53 during trading on Thursday, hitting $15.22. 315,790 shares of the stock were exchanged, compared to its average volume of 437,281. The company has a market cap of $1.84 billion, a PE ratio of 5.79 and a beta of 1.01. The company has a current ratio of 1.61, a quick ratio of 1.57 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $15.11 and a two-hundred day moving average price of $15.81. Costamare has a 12-month low of $10.84 and a 12-month high of $18.06.

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

Wall Street Analysts Forecast Growth

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

Costamare Company Profile

Costamare Inc is a global shipping company that owns and operates containerships and dry bulk vessels. The company provides maritime transportation services primarily through time-charter and other charter arrangements with international liner companies, cargo owners and commercial operators.

Costamare’s containership fleet transports manufactured goods, consumer products and other containerized cargo on major global trade routes. Its dry bulk vessels carry commodities such as grains, minerals and other bulk cargoes.