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

Costamare Inc. (NYSE:CMRE) announced a quarterly dividend on Thursday, April 3rd, Wall Street Journal reports. Investors of record on Thursday, April 17th will be paid a dividend of 0.115 per share by the shipping company on Tuesday, May 6th. This represents a $0.46 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, April 17th.

Costamare has increased its dividend payment by an average of 2.3% per year over the last three years. Costamare has a dividend payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Costamare to earn $2.42 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 19.0%.

Costamare Stock Up 0.7 %

CMRE stock opened at $9.05 on Tuesday. 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 company’s 50 day simple moving average is $10.03 and its 200-day simple moving average is $12.18. Costamare has a 12 month low of $8.11 and a 12 month high of $17.58. The firm has a market capitalization of $1.09 billion, a PE ratio of 3.71 and a beta of 1.11.

Costamare (NYSE:CMRE) last announced its earnings results on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Costamare had a return on equity of 14.03% and a net margin of 15.14%. Equities analysts expect that Costamare will post 2.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Jefferies Financial Group restated a “hold” rating and issued a $13.00 target price on shares of Costamare in a report on Wednesday, February 5th. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Costamare Company Profile