Press Release: Costamare Inc. Declares Quarterly Dividend on Its Preferred and Common Stock
10/2/20, 8:00 AM
Costamare Inc. Declares Quarterly Dividend on Its Preferred and Common Stock
MONACO, Oct. 02, 2020 (GLOBE NEWSWIRE) -- Costamare Inc. (the "Company") (NYSE: CMRE) has declared cash dividends of US $0.476563 per share on its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock (the "Series B Preferred Stock") (NYSE: CMRE PR B), US $0.531250 per share on its 8.50% Series C Cumulative Redeemable Perpetual Preferred Stock (the "Series C Preferred Stock") (NYSE: CMRE PR C), US $0.546875 per share on its 8.75% Series D Cumulative Redeemable Perpetual Preferred Stock (the "Series D Preferred Stock") (NYSE: CMRE PR D) and US $0.554688 per share on its 8.875% Series E Cumulative Redeemable Perpetual Preferred Stock (the "Series E Preferred Stock") (NYSE: CMRE PR E). The dividend for the Series B Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock and the Series E Preferred Stock is for the period from July 15, 2020, to October 14, 2020. The dividend will be paid on October 15, 2020 to all holders of record as of October 14, 2020 of Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock.
The Company has also declared a quarterly dividend on its common stock of US $ 0.10 per share for the quarter ended September 30, 2020. The dividend for the common stock is payable on November 5, 2020, to holders of record of common stock as of October 20, 2020.
The declaration of a dividend is subject to the discretion of the Board of Directors of the Company, and accordingly will depend on, among other things, the Company's earnings, financial condition and cash requirements and availability, the Company's ability to obtain debt and equity financing on acceptable terms as contemplated by the Company's growth strategy, the restrictive covenants in the Company's existing and future debt instruments and global economic conditions.
