Business Context and Reporting Period
This Form 6-K filing by Costamare Inc. (NYSE: CMRE) is dated July 9, 2012, and pertains to the month of July 2012. The primary purpose of the filing is to announce a quarterly dividend declaration for the quarter ended June 30, 2012. Costamare Inc. is a leading owner and provider of containerships for charter, operating a fleet of 56 vessels with a total capacity of approximately 326,000 TEU, including 10 newbuilds on order.
Key Financial Metrics
- Dividend Declaration: $0.27 per common share.
- Payment Date: August 7, 2012.
- Record Date: July 23, 2012.
- Shares Outstanding: 67,800,000 as of July 9, 2012.
- Revenue, Profit, and Cash Flow: The filing text does not provide specific values for revenue, net income, operating cash flow, margins, debt levels, or liquidity ratios for the period.
Material Changes
The filing does not provide comparative financial data or specific details regarding material changes in revenue, profit, or fleet utilization versus the prior comparable period. The primary material event reported is the Board of Directors' decision to declare a cash dividend.
Guidance, Outlook, and Risks
The filing includes standard forward-looking statements regarding the Company's beliefs and expectations for future results, noting that actual results may differ materially due to inherent uncertainties. The declaration of the dividend is explicitly stated to be subject to the discretion of the Board and dependent on:
- The Company's earnings, financial condition, and cash requirements.
- The ability to obtain 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.
Investor Verification Checklist
- Verify the dividend payment date of August 7, 2012, and the record date of July 23, 2012.
- Confirm the total dividend payout obligation based on 67,800,000 shares outstanding.
- Review the most recent Form 20-F for detailed financial statements, as this 6-K does not contain revenue or profit figures.
- Assess the Company's current debt covenants and liquidity position to ensure the dividend remains sustainable under current global economic conditions.