Business Context and Reporting Period
This Form 6-K filing by Costamare Inc. (NYSE: CMRE) is dated October 5, 2012. The Company is a leading owner and provider of containerships for charter with a 37-year history. As of the filing date, the fleet consists of 58 containerships with a total capacity of approximately 330,000 TEU, including 10 newbuilds on order.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, or debt figures for the period. The primary financial disclosure is the declaration of a quarterly cash dividend of $0.27 per share for the quarter ended September 30, 2012. The dividend is payable on November 6, 2012, to stockholders of record on October 22, 2012. There are 67,800,000 shares of common stock outstanding as of the filing date.
Material Changes
The filing does not contain comparative financial data or details on material changes in operations versus the prior comparable period. It serves primarily to announce the dividend declaration.
Guidance, Outlook, and Risks
Management notes that dividend declarations are subject to Board discretion and depend on earnings, financial condition, cash requirements, and the ability to obtain financing on acceptable terms. The filing includes standard forward-looking statements regarding future results, noting that actual results may differ materially due to global economic conditions and other factors. Investors are directed to the "Risk Factors" section of the Annual Report on Form 20-F for a detailed discussion of risks.
Investor Verification Checklist
- Verify the record date of October 22, 2012, and payment date of November 6, 2012, for the $0.27 per share dividend.
- Confirm the total number of outstanding shares (67,800,000) to calculate total dividend liability.
- Review the Company's Form 20-F for detailed risk factors and historical financial performance not included in this 6-K.
- Monitor the status of the 10 newbuilds on order and their impact on future fleet capacity.