LONDON, UK / ACCESSWIRE / January 19, 2018 / Active-Investors has a free review on Costamare Inc. (NYSE: CMRE) following the Company's announcement that it will begin trading ex-dividend on January 22, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend) that is by latest at the end of the trading session on January 19, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on CMRE:
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Dividend Declared
On January 02, 2018, Costamare declared a quarterly dividend on its common stock of $0.10 per share for the quarter ended December 31, 2017. The dividend for the common stock is payable on February 06, 2018, to holders of record of common stock as of January 23, 2018.
Costamare's indicated dividend represents a yield of 6.33%, which is more than triple compared to the average dividend yield of 1.85% for the Services sector.
Dividend Insight
Costamare has a dividend payout ratio of 53.3%, this represents that the Company spends approximately $0.53 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Costamare is forecasted to report earnings of $0.66 per share for the next year, which is substantially above the Company's annualized dividend of $0.40 per share.
Costamare's net cash flows provided by operating activities for the three-month period ended September 30, 2017, was $48.0 million compared to $49.8 million for the three-month period ended September 30, 2016. As of September 30, 2017, the Company had a total cash liquidity of $233.7 million, consisting of cash, cash equivalents and restricted cash. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
About Costamare
Costamare is one of the world's leading owners and providers of containerships for charter. The Company has 44 years of history in the international shipping industry and a fleet of 70 containerships, with a total capacity of approximately 463,000 TEU, including two newbuild containerships on order. Eighteen of the Company's containerships, including two newbuilds, have been acquired pursuant to the Framework Deed with York Capital Management by vessel-owning joint venture entities in which the Company holds a minority equity interest. Costamare was founded in 1974 and is based in Monaco.
Stock Performance Snapshot
January 18, 2018 - At Thursday's closing bell, Costamare's stock fell 1.77%, ending the trading session at $6.11.
Volume traded for the day: 1.02 million shares, which was above the 3-month average volume of 638.01 thousand shares.
Stock performance in the last month – up 4.27%; and year-to-date – up 5.89%
After yesterday's close, Costamare's market cap was at $654.01 million.
Price to Earnings (P/E) ratio was at 17.11.
The stock has a dividend yield of 6.55%.
The stock is part of the Services sector, categorized under the Shipping industry. This sector was up 0.1% at the end of the session.
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