Costamare Inc. Declares Quarterly Dividend of $0.25 per Share
News Release
Costamare Inc.
July 11, 2011
Athens, Greece - July 11, 2011 - Costamare Inc. (the "Company") (NYSE: CMRE) today declared a quarterly dividend of $0.25 per share for the quarter ended June 30, 2011. Dividend Declaration
The Company today declared a cash dividend on its common stock of $0.25 per common share payable on August 9, 2011 to stockholders of record at the close of trading of the Company's common stock on the New York Stock Exchange (the "NYSE") on July 27, 2011. The Company has 60,300,000 shares of common stock outstanding as of today.
The declaration of a dividend will always be subject to the discretion of the Board of Directors of the Company, and 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.
Management Commentary
Gregory Zikos, Chief Financial Officer of the Company said: "In line with our dividend policy, the Board of Directors declared our third quarterly dividend since we commenced trading on the New York Stock Exchange".
"As our distribution capacity increases, our contracted cash flows, together with our conservative capital structure, provide us with the ability to pay what we consider to be a safe dividend without affecting our growth plans. Our goal is to increase our dividend payments over time, consistent with our dividend policy, in order to reward our shareholders for their trust and commitment to the Company."
The Company today declared a cash dividend on its common stock of $0.25 per common share payable on August 9, 2011 to stockholders of record at the close of trading of the Company's common stock on the New York Stock Exchange (the "NYSE") on July 27, 2011. The Company has 60,300,000 shares of common stock outstanding as of today.
The declaration of a dividend will always be subject to the discretion of the Board of Directors of the Company, and 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.
Management Commentary
Gregory Zikos, Chief Financial Officer of the Company said: "In line with our dividend policy, the Board of Directors declared our third quarterly dividend since we commenced trading on the New York Stock Exchange".
"As our distribution capacity increases, our contracted cash flows, together with our conservative capital structure, provide us with the ability to pay what we consider to be a safe dividend without affecting our growth plans. Our goal is to increase our dividend payments over time, consistent with our dividend policy, in order to reward our shareholders for their trust and commitment to the Company."