Costamare Inc. (CMRE) to Issue Quarterly Dividend of $0.12 on February 6th

Costamare Inc. (NYSE:CMRE) announced a quarterly dividend on Thursday, January 2nd,RTT News reports. Stockholders of record on Tuesday, January 21st will be paid a dividend of 0.115 per share by the shipping company on Thursday, February 6th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Tuesday, January 21st.

Costamare has raised its dividend by an average of 4.8% per year over the last three years. Costamare has a dividend payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Costamare to earn $2.94 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 15.6%.

Costamare Price Performance

Shares of NYSE CMRE opened at $13.02 on Friday. Costamare has a fifty-two week low of $10.14 and a fifty-two week high of $17.58. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 4.33 and a beta of 1.34. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The business has a 50-day moving average of $13.44 and a 200-day moving average of $14.22.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $544.64 million for the quarter, compared to analysts’ expectations of $434.13 million. Costamare had a return on equity of 14.28% and a net margin of 19.11%. During the same quarter in the prior year, the business earned $0.46 EPS. As a group, sell-side analysts predict that Costamare will post 2.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CMRE has been the subject of several recent research reports. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Costamare in a research note on Friday, November 1st.

Costamare Company Profile