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

Costamare Inc. (NYSE:CMRE) announced a quarterly dividend on Thursday, January 2nd,RTT News reports. Stockholders of record on Tuesday, January 21st will be given 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 dividend yield of 3.41%.

Costamare has raised its dividend payment by an average of 4.8% annually over the last three years. Costamare has a payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Costamare stock opened at $13.50 on Friday. The business’s 50 day moving average price is $13.46 and its 200 day moving average price is $14.23. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 4.49 and a beta of 1.34. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. Costamare has a one year low of $10.14 and a one year high of $17.58.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CMRE shares. Jefferies Financial Group reissued a “hold” rating and set a $13.00 target price on shares of Costamare in a research note on Friday, November 1st. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

About Costamare