Costamare Inc. Declares Quarterly Dividend on Its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock & 8.50% Ser...
March 31 2014 - 4:05PM
Marketwired
Costamare Inc. Declares Quarterly Dividend on Its 7.625% Series B
Cumulative Redeemable Perpetual Preferred Stock and 8.50% Series C
Cumulative Redeemable Perpetual Preferred Stock
ATHENS, GREECE--(Marketwired - Mar 31, 2014) - Costamare
Inc. (the "Company") (NYSE: CMRE) has declared a cash dividend of
US $0.476563 per share on its 7.625% Series B Cumulative Redeemable
Perpetual Preferred Stock (the "Series B Preferred Stock") (NYSE:
CMRE PR B) and a cash dividend of US $0.495833 per share on its
8.50% Series C Cumulative Redeemable Perpetual Preferred Stock (the
"Series C Preferred Stock") (NYSE: CMRE PR C). The dividend
for the Series B Preferred Stock is for the period from the most
recent dividend payment date, January 15, 2014, to April 14,
2014. The dividend for the Series C Preferred Stock is for the
period from the original issuance of the Series C Preferred Stock
on January 21, 2014 to April 14, 2014. The dividends will be paid
on April 15, 2014 to all holders of record as of April 14, 2014 of
the Series B Preferred Stock and Series C Preferred Stock.
This is the first cash dividend the Company has declared since
the commencement of trading of its Series C Preferred Stock on the
New York Stock Exchange.
The declaration of a dividend is subject to the discretion of
the Board of Directors of the Company, and accordingly will depend
on, among other things, the Company's earnings, financial condition
and cash requirements and availability, the Company's ability to
obtain debt and equity financing on acceptable terms as
contemplated by the Company's growth strategy, the restrictive
covenants in the Company's existing and future debt instruments and
global economic conditions.
About Costamare Inc.
Costamare Inc. is one of the world's leading owners and
providers of containerships for charter. The Company has 40 years
of history in the international shipping industry and a fleet of 67
containerships, with a total capacity in excess of 445,000 TEU,
including 11 newbuild containerships on order. Twelve of our
containerships, including nine newbuilds, have been acquired
pursuant to the Framework Agreement with York Capital Management by
vessel-owning joint venture entities in which we hold a minority
equity interest. The Company's common stock, Series B Preferred
Stock and Series C Preferred Stock trade on the New York Stock
Exchange under the symbols "CMRE", "CMRE PR B" and "CMRE PR C",
respectively.
Forward-Looking Statements
This press release contains "forward-looking statements". In
some cases, you can identify these statements by forward-looking
words such as "believe", "intend", "anticipate", "estimate",
"project", "forecast", "plan", "potential", "may", "should",
"could" and "expect" and similar expressions. These statements are
not historical facts but instead represent only the Company's
belief regarding future results, many of which, by their nature,
are inherently uncertain and outside of the Company's control. It
is possible that actual results may differ, possibly materially,
from those anticipated in these forward-looking statements. For a
discussion of some of the risks and important factors that could
affect future results, see the discussion in the Company's Annual
Report on Form 20-F (File No. 001-34934) under the caption "Risk
Factors".
Contacts: Company: Gregory Zikos Chief Financial Officer
Konstantinos Tsakalidis Business Development Costamare Inc. Athens,
Greece Tel: (+30) 210-949-0050 Email: Email Contact Investor
Relations: Gus Okwu Allison+Partners, New York Telephone: (+1)
646-428-0638 Email: Email Contact
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