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

Costamare Inc. (NYSE:CMRE) declared a quarterly dividend on Monday, September 30th, Zacks reports. Stockholders of record on Monday, October 21st will be paid a dividend of 0.115 per share by the shipping company on Wednesday, November 6th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Monday, October 21st.

Costamare has increased its dividend payment by an average of 4.8% annually over the last three years. Costamare has a payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Costamare to earn $2.80 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 16.4%.

Costamare Price Performance

Shares of Costamare stock opened at $14.38 on Friday. The firm has a market cap of $1.69 billion, a PE ratio of 5.57 and a beta of 1.37. The stock has a 50 day moving average of $14.21 and a 200 day moving average of $14.18. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 0.77. Costamare has a 12 month low of $8.54 and a 12 month high of $17.58.

Costamare (NYSE:CMRE) last posted its earnings results on Wednesday, July 31st. The shipping company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Costamare had a return on equity of 13.63% and a net margin of 19.63%. The firm had revenue of $515.42 million during the quarter, compared to the consensus estimate of $380.41 million. On average, research analysts expect that Costamare will post 3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CMRE shares. Stifel Nicolaus lifted their price objective on shares of Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. StockNews.com upgraded Costamare from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd. Finally, Jefferies Financial Group upped their price objective on Costamare from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st.

About Costamare