SOURCE: Costamare Inc.

Costamare Inc.

January 03, 2017 16:15 ET

Costamare Inc. Declares Quarterly Dividend on Its Preferred and Common Stock

MONACO--(Marketwired - Jan 3, 2017) - 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.PRB), US $0.531250 per share on its 8.50% Series C Cumulative Redeemable Perpetual Preferred Stock (the "Series C Preferred Stock") (NYSE: CMRE.PRC) and US $0.546875 per share on its 8.75% Series D Cumulative Redeemable Perpetual Preferred Stock (the "Series D Preferred Stock") (NYSE: CMRE.PRD). The dividend for the Series B Preferred Stock, the Series C Preferred Stock and the Series D Preferred Stock is for the period from October 15, 2016, to January 14, 2017. The dividends will be paid on January 17, 2017 to all holders of record as of January 13, 2017 of Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock.

The Company has also declared a quarterly dividend on its common stock of $0.10 per share for the quarter ended December 31, 2016. The dividend for the common stock is payable on February 6, 2017, to holders of record of common stock as of January 23, 2017.

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 43 years of history in the international shipping industry and a fleet of 71 containerships, with a total capacity of approximately 464,000 TEU, including six newbuild containerships on order. Eighteen of the Company's containerships, including six newbuilds, have been acquired pursuant to the Framework Deed with York Capital Management by vessel-owning joint venture entities in which we hold a minority equity interest. The Company's common stock, Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock trade on the New York Stock Exchange under the symbols "CMRE", "CMRE PR B", "CMRE PR C" and "CMRE PR D", 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

  • Company Contacts:
    Gregory Zikos
    Chief Financial Officer

    Konstantinos Tsakalidis
    Business Development, Investor Relations

    Costamare Inc., Monaco
    Tel: (+377) 93 25 09 40
    Email: ir@costamare.com