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Costamare, Inc., 8.875% Series E Cumulative Redeemable Perpetual Preferred Stock
Ticker Symbol: CMRE-E* CUSIP: Y1771G201 Exchange: NYSE
* NOTE: This security is no longer trading as of 7/15/2024
Security has been Called for: Monday, July 15, 2024
June 14, 2024 – Costamare Inc. (the “Company”, “we” or “our”) (NYSE: CMRE) announced today that the Company will redeem all of its outstanding shares of 8.875% Series E Cumulative Redeemable Perpetual Preferred Stock (the “Series E Preferred Stock”, and the redemption thereof, the “Redemption”) held by shareholders (the “Holders”), pursuant to that certain Statement of Designation, dated as of January 26, 2018. The Company expects the redemption date for the shares of Series E Preferred Stock to occur on July 15, 2024 (the “Redemption Date”). The redemption price of the shares of Series E Preferred Stock will be $25.00 per share plus accrued and unpaid dividends in respect of the Series E Preferred Stock up to, but not including, the Redemption Date (the “Redemption Price”). As of the date of this press release, there were 4,574,100 Series E Preferred Stock outstanding.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Costamare, Inc., 8.875% Series E Cumulative Redeemable Perpetual Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 1/30/2023 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 8.875% per annum ($2.21875 per annum or $0.5546875 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be the business day immediately preceding the payment date (NOTE: the ex-dividend date is at least one business day prior to the record date). Dividends paid by these preference shares are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders (see page S-42 of the prospectus for further information). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (CMRE)
IPO - 1/25/2018 - 4.60 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: CTMMF Changed: 2/02/2018
Market Value $ Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: 7 rue du Gabian MC 98000 Monaco |
| Main Phone Number |
+377 93 25 09 40 |
| Fax Number |
+377 93 25 09 42 |
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Inv Rel Phone Number
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+377 93 25 09 40 |
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