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

Costamare Inc. (NYSE:CMRE) declared a quarterly dividend on Monday, September 30th, Zacks reports. Shareholders 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 yield of 2.99%. The ex-dividend date of this dividend is Monday, October 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 16.4% 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 Trading Down 0.2 %

Costamare stock traded down $0.03 during trading hours on Wednesday, reaching $15.40. The company had a trading volume of 7,067 shares, compared to its average volume of 516,413. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 5.98 and a beta of 1.37. Costamare has a 12-month low of $8.54 and a 12-month high of $17.58. The company has a 50-day moving average price of $14.08 and a 200 day moving average price of $13.89. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.61 and a quick ratio of 1.54.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. Costamare had a return on equity of 13.63% and a net margin of 19.63%. The company had revenue of $515.42 million for the quarter, compared to analyst estimates of $380.41 million. Equities analysts forecast that Costamare will post 3.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Jefferies Financial Group boosted their target price on Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. StockNews.com raised Costamare from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus boosted their target price on Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th.

Costamare Company Profile