Costamare Inc. has declared cash dividends of US $0.476563 per share on its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock, US $0.531250 per share on its 8.50% Series C Cumulative Redeemable Perpetual Preferred Stock and US $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 the most recent dividend payment date, January 15, 2016, to April 14, 2016. The dividends will be paid on April 15, 2016 to all holders of record as of April 14, 2016 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 $0.29 per share for the quarter ended March 31, 2016. The dividend for the common stock is payable on May 4, 2016, to holders of record of common stock as of April 19, 2016.
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.