Containership owner Costamare has declared[ds_preview] cash dividends for its Series B Preferred Stock, the Series C Preferred Stock and the Series D Preferred Stock as well as the common stock.
The cash dividend on Costamare‘s 7.625 % Series B Cumulative Redeemable Perpetual Preferred Stock is 0.476563 $ per share, 0.531250 $ per share on the 8.50 % Series C Cumulative Redeemable Perpetual Preferred Stock and 0.546875 $ per share on its 8.75 % Series D Cumulative Redeemable Perpetual Preferred Stock.
The dividend for the Series B Preferred Stock, the Series C Preferred Stock and the Series D Preferred Stock is for the period from October 15, 2016, to January 14, 2017. The dividends will be paid on January 17, 2017, to all holders of record as of January 13, 2017, of Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock.
The Company has also declared a quarterly dividend on its common stock of $0.10 per share for the quarter ended December 31, 2016. The dividend for the common stock is payable on February 6, 2017, to holders of record of common stock as of January 23, 2017.
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.
Costamare owns a fleet of 71 containerships, with a total capacity of approximately 464,000 TEU, including six newbuild containerships on order. Eighteen of the Company’s containerships, including six newbuilds, have been acquired pursuant to the Framework Deed with York Capital Management by vessel – owning joint venture entities in which we hold a minority equity interest.
