SOURCE: Costamare Inc.

Costamare Inc.

January 02, 2014 16:05 ET

Costamare Inc. Declares Quarterly Dividend on Its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock

ATHENS, GREECE--(Marketwired - Jan 2, 2014) - Costamare Inc. (the "Company") (NYSE: CMRE) has declared a cash dividend 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) for the period from October 15, 2013 to January 14, 2014. The dividend will be paid on January 15, 2014 to all Series B Preferred Stock holders of record as of January 14, 2014.

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.

About Costamare Inc.

Costamare Inc. is one of the world's leading owners and providers of containerships for charter. The Company has 39 years of history in the international shipping industry and a fleet of about 60 containerships, with a total capacity in excess of 350,000 TEU, including five newbuild containerships on order. Five of our containerships, including two newbuilds, have been acquired pursuant to the Framework Agreement with York Capital Management by vessel-owning joint venture entities in which we hold a 49% equity interest. The Company's common stock and Series B Preferred Stock trade on the New York Stock Exchange under the symbols "CMRE" and "CMRE PR B", respectively.

Forward-Looking Statements

This press release contains "forward-looking statements". In some cases, you can identify these statements by forward-looking words such as "believe", "intend", "anticipate", "estimate", "project", "forecast", "plan", "potential", "may", "should", "could" and "expect" and similar expressions. These statements are not historical facts but instead represent only the Company's belief regarding future results, many of which, by their nature, are inherently uncertain and outside of the Company's control. It is possible that actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Company's Annual Report on Form 20-F (File No. 001-34934) under the caption "Risk Factors".

Contact Information

  • Contacts:

    Company:
    Gregory Zikos
    Chief Financial Officer
    Konstantinos Tsakalidis
    Business Development
    Costamare Inc., Athens, Greece
    Tel: (+30) 210-949-000
    Email: Email Contact

    Investor Relations:
    Gus Okwu
    Allison+Partners, New York
    Telephone: (+1) 646-428-0638
    Email: Email Contact