Costamare Inc. (NYSE:CMRE - Get Free Report) declared a quarterly dividend on Thursday, April 3rd, Wall Street Journal reports. Shareholders of record on Thursday, April 17th will be paid a dividend of 0.115 per share by the shipping company on Tuesday, May 6th. This represents a $0.46 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date is Thursday, April 17th.
Costamare has raised its dividend by an average of 2.3% annually over the last three years. Costamare has a payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Costamare to earn $2.42 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 19.0%.
Costamare Stock Down 5.0 %
NYSE CMRE traded down $0.44 on Tuesday, reaching $8.34. The company had a trading volume of 977,404 shares, compared to its average volume of 469,054. The company's fifty day moving average is $10.29 and its 200-day moving average is $12.41. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 3.42 and a beta of 1.11. 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 $8.27 and a 1-year high of $17.58.
Costamare (NYSE:CMRE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. On average, research analysts forecast that Costamare will post 2.52 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on CMRE shares. Jefferies Financial Group restated a "hold" rating and issued a $13.00 price target on shares of Costamare in a research note on Wednesday, February 5th. StockNews.com lowered shares of Costamare from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.
Check Out Our Latest Analysis on CMRE
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