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

Costamare Inc. (NYSE:CMRE) declared a quarterly dividend on Monday, July 1st, NASDAQ reports. Investors of record on Friday, July 19th will be paid a dividend of 0.115 per share by the shipping company on Tuesday, August 6th. This represents a $0.46 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Friday, July 19th.

Costamare has increased its dividend by an average of 4.8% annually over the last three years. Costamare has a dividend payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Costamare to earn $2.87 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 16.0%.

Costamare Trading Down 0.6 %

NYSE:CMRE traded down $0.11 on Monday, reaching $16.33. 823,957 shares of the company’s stock were exchanged, compared to its average volume of 547,480. The business has a fifty day moving average of $14.47 and a 200-day moving average of $12.21. The company has a quick ratio of 1.81, a current ratio of 1.91 and a debt-to-equity ratio of 0.80. Costamare has a 52-week low of $8.54 and a 52-week high of $17.58. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 6.33 and a beta of 1.38.

Costamare (NYSE:CMRE) last announced its earnings results on Friday, May 10th. The shipping company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $475.43 million for the quarter, compared to the consensus estimate of $383.32 million. Costamare had a net margin of 19.26% and a return on equity of 12.61%. As a group, analysts expect that Costamare will post 3.08 earnings per share for the current year.

Wall Street Analyst Weigh In

CMRE has been the subject of a number of recent research reports. Jefferies Financial Group lifted their target price on Costamare from $11.00 to $12.00 and gave the company a “hold” rating in a report on Friday, May 10th. StockNews.com downgraded Costamare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 21st. Finally, Stifel Nicolaus raised their target price on shares of Costamare from $11.50 to $12.00 and gave the company a “hold” rating in a report on Friday, April 19th.

About Costamare