Costamare Inc. (NYSE:CMRE) Shares Set to Pay Quarterly Dividend of $0.12

Costamare Inc. (NYSE:CMRE) declared a quarterly dividend on Thursday, October 1st. Shareholders 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 raised its dividend by an average of 0.5%per year over the last three years. Costamare has a dividend payout ratio of 22.1% meaning its dividend is sufficiently covered by earnings.

Costamare Stock Performance

Shares of NYSE:CMRE traded up $0.53 during trading on Thursday, reaching $15.22. The company had a trading volume of 315,790 shares, compared to its average volume of 437,281. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 5.79 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.61 and a quick ratio of 1.57. The stock’s fifty day moving average price is $15.11 and its 200 day moving average price is $15.81. Costamare has a fifty-two week low of $10.84 and a fifty-two week high of $18.06.

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

Wall Street Analyst Weigh In

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

About Costamare

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.