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

Costamare Inc. (NYSE:CMRE) declared a quarterly dividend on Thursday, January 2nd,RTT News reports. Investors of record on Tuesday, January 21st will be paid a dividend of 0.115 per share by the shipping company on Thursday, February 6th. This represents a $0.46 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Tuesday, January 21st.

Costamare has increased its dividend by an average of 4.8% per year over the last three years. Costamare has a payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Costamare to earn $2.94 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 15.6%.

Costamare Stock Performance

Shares of CMRE stock opened at $13.02 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. The stock has a fifty day moving average of $13.44 and a 200 day moving average of $14.22. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 4.33 and a beta of 1.34. Costamare has a 52 week low of $10.14 and a 52 week high of $17.58.

Costamare (NYSE:CMRE) last announced its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. The firm had revenue of $544.64 million for the quarter, compared to analyst estimates of $434.13 million. During the same quarter in the previous year, the firm posted $0.46 EPS. As a group, research analysts expect that Costamare will post 2.83 earnings per share for the current year.

Analyst Ratings Changes

CMRE has been the subject of a number of recent research reports. Jefferies Financial Group reissued a “hold” rating and set a $13.00 price target on shares of Costamare in a research report on Friday, November 1st. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Costamare Company Profile