Business Context and Reporting Period
This Form 6-K filing by Costamare Inc. (NYSE: CMRE) is dated April 10, 2013. The Company is a leading owner and provider of containerships for charter with a fleet of 57 vessels totaling approximately 332,000 TEU, including eight newbuilds on order. The filing primarily announces a quarterly dividend declaration for the quarter ended March 31, 2013.
Key Financial Metrics
- Dividend Declaration: $0.27 per common share.
- Payment Date: May 8, 2013.
- Record Date: April 24, 2013.
- Shares Outstanding: 74,800,000 as of April 10, 2013.
- Revenue, Profit, Cash Flow, Margins, Debt, and Liquidity: The filing text does not provide specific values for these metrics for the current or prior periods.
Material Changes
The filing does not contain comparative financial data or explicit statements regarding material changes in revenue, profit, or operational metrics versus the prior comparable period. The primary change reported is the Board of Directors' decision to declare the quarterly dividend.
Guidance, Outlook, and Risks
The filing includes standard forward-looking statements regarding future results, noting that actual results may differ materially from expectations. The declaration of the dividend is explicitly stated to be subject to the discretion of the Board and dependent on:
- Company earnings, financial condition, and cash requirements.
- Availability of debt and equity financing on acceptable terms.
- Restrictive covenants in existing and future debt instruments.
- Global economic conditions.
Investors are directed to the "Risk Factors" section of the Annual Report on Form 20-F for a detailed discussion of risks.
Key Facts for Investor Verification
- Verify the total dividend payout obligation based on the 74,800,000 shares outstanding and the $0.27 per share rate.
- Confirm the Company's ability to meet the May 8, 2013 payment date given current cash requirements and debt covenants.
- Review the Form 20-F for detailed risk factors and historical financial performance not included in this press release.
- Monitor the status of the eight newbuilds on order and their impact on future capital requirements.