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

Costamare Inc. (NYSE:CMRE - Get Free Report) 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 annualized dividend and a dividend yield of 3.41%.

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. 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 Price Performance

CMRE stock traded up $0.65 on Thursday, reaching $13.50. The company had a trading volume of 382,414 shares, compared to its average volume of 462,457. The company's fifty day moving average is $13.46 and its 200 day moving average is $14.24. The company has a market cap of $1.59 billion, a P/E 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 1 year low of $10.14 and a 1 year high of $17.58.

Costamare (NYSE:CMRE - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $544.64 million for the quarter, compared to the consensus estimate of $434.13 million. Costamare had a return on equity of 14.28% and a net margin of 19.11%. During the same period in the prior year, the business earned $0.46 earnings per share. On average, research analysts forecast that Costamare will post 2.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Costamare from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Jefferies Financial Group reaffirmed a "hold" rating and issued a $13.00 target price on shares of Costamare in a research note on Friday, November 1st.

Costamare Company Profile