SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2011
(Translation of registrants name into English)
60 Zephyrou Street & Syngrou Avenue 17564, Athens, Greece
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether the registrant by furnishing the information contained in the Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Press Release Dated October 11, 2011: Costamare Inc. Declares Quarterly Dividend of $0.27 per Share.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: October 11, 2011
/s/ Gregory G. Zikos
Gregory G. Zikos
Chief Financial Officer
Costamare Inc. Declares Quarterly Dividend of $0.27 per Share
Athens, Greece October 11, 2011 Costamare Inc. (the Company) (NYSE: CMRE) has declared a quarterly dividend of $0.27 per share for the quarter ended September 30, 2011, an increase of $0.02 per share over the prior dividend level.
At its special meeting yesterday, the Companys Board of Directors approved managements recommendation to increase the dividend from $0.25 per share to $0.27 per share and declared a cash dividend on its common stock of $0.27 per common share payable on November 7, 2011 to stockholders of record at the close of trading of the Companys common stock on the New York Stock Exchange on October 21, 2011. The Company has 60,300,000 shares of common stock outstanding as of today.
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 Companys earnings, financial condition and cash requirements and availability, the Companys ability to obtain debt and equity financing on acceptable terms as contemplated by the Companys growth strategy, the restrictive covenants in the Companys existing and future debt instruments and global economic conditions.
Gregory Zikos, Chief Financial Officer of the Company, said: We are very pleased to announce that the Companys Board of Directors approved the proposed dividend increase and declared our fourth quarterly dividend since we commenced trading on the New York Stock Exchange.
Our decision to increase the dividend by 8% in less than one year after going public comes as a result of our increased distributable cash flow, due to both our acquisitions and chartering agreements concluded during the first three quarters of the year.
Our goal still remains 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.
About Costamare Inc.
Costamare Inc. is one of the worlds leading owners and providers of containerships for charter. Costamare Inc. has 36 years of history in the international shipping industry and a fleet of 61 containerships, including 10 newbuilds on order and two secondhand vessels to be delivered, with a total capacity of approximately 337,000 TEU. Costamare Inc.s common shares trade on the New York Stock Exchange under the symbol CMRE.
This press release contains forward-looking statements. In some cases, you can identify these statements by forward-looking words such as believe, intend, anticipate, estimate, project, forecast, plan, potential, may, should, could and expect and similar expressions. These statements are not historical facts but instead represent only Costamares belief regarding future results, many of which, by their nature, are inherently uncertain and outside of Costamares control. It is possible that actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in Costamare Inc.s Annual Report on Form 20-F (File No. 001-34934) under the caption Risk Factors.
Gregory Zikos - Chief Financial Officer
Konstantinos Tsakalidis - Business Development / Investor Relations
Costamare Inc., Athens, Greece
Tel: (+30) 210-949-0000
Investor Relations Advisor/ Media Contact:
Nicolas Bornozis - President
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, N.Y. 10169
Tel.: (+1) 212-661-7566