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Costamare Inc. Reports Results For The First Quarter Ended March 31, 2026 in International Shipping News 01/05/2026 Costamare Inc. reported unaudited financial results for the first quarter ended March 31, 2026 (“Q1 2026”). I. PROFITABILITY AND LIQUIDITY Q1 2026 Adjusted Net Income from Continuing operations1 available to common stockholders2 of $76.0 million ($0.63 per share). Q1 2026 Net Income from Continuing operations1 available to common stockholders of $75.3 million ($0.62 per share). Q1 2026 liquidity of $644.4 million3. II. COMMON DIVIDEND INCREASE Management of the Company announced that it will recommend to the Board of Directors the approval of a dividend increase, beginning with the second quarter of 2026, increasing the quarterly dividend from $0.115 to $0.125 per common share. III. ENTERED INTO 16 SHIPBUILDING CONTRACTS BACKED WITH LONG TERM CHARTERS – INCREMENTAL CONTRACTED REVENUES OF $2.8 BILLION – CONCLUDED FINANCING ON A PRE-POST DELIVERY BASIS FOR ALL 16 VESSELS (A) 12x 9,200 TEU NEWBUILDS Vessels expected to be delivered between Q3 2028 and Q2 2030. Each vessel will commence a 15-year time charter upon delivery with COSCO. Pre- and post- delivery financing for a tenor of 15 years has been arranged for all 12 newbuilds. (B) 4x 3,100 TEU NEWBUILDS Vessels expected to be delivered between Q4 2027 and Q4 2028. Each vessel will commence an 8-year time charter upon delivery with COSCO. Pre- and post- delivery financing for a tenor of 8 years has been arranged for all four newbuilds. The 16 newbuilds contribute approximately $2.8 billion in contracted revenues and extend our TEU-weighted fleet employment duration by 1.8 years. IV. SALE AND PURCHASE ACTIVITY – SECONDHAND VESSELS Vessel Acquisitions Agreement for the acquisition of two container vessels built in 2001, each with a capacity of approximately 5,600 TEU. The acquisitions are expected to be completed in Q4 2026, upon which each vessel shall commence a 42-month time charter with a leading liner operator. The acquisitions are expected to be financed with debt and cash on hand. V. FLEET EMPLOYMENT6 97% and 94% of the containership fleet7 fixed for 2026 and 2027, respectively. Contracted revenues for the containership fleet of approximately $6.2 billion with a TEU-weighted duration of 6.1 years8. VI. LEASE FINANCING PLATFORM Controlling interest in Neptune Maritime Leasing Limited (“NML”). Growing leasing platform with 52 shipping assets9 funded or on a commitment status basis, representing total investments and commitments of more than $675 million, supported by what we believe is a healthy pipeline. VII. DIVIDEND ANNOUNCEMENTS On April 2, 2026, the Company declared a dividend of $0.115 per share on the common stock, which is payable on May 5, 2026, to holders of record of common stock as of April 20, 2026. On April 2, 2026, the Company declared a dividend of $0.476563 per share on the Series B Preferred Stock, $0.531250 per share on the Series C Preferred Stock and $0.546875 per share on the Series D Preferred Stock, which were all paid on April 15, 2026, to holders of record as of April 14, 2026. Mr. Gregory Zikos, Chief Financial Officer of Costamare Inc., commented: “During the first quarter of the year, the Company generated Net Income of about $75 million. Total liquidity amounted to about $645 million. Executing on our strategy of renewing the fleet and securing long-term cash flows from high quality counterparties, we have ordered a total of 16 newbuildings
Costamare Inc. Reports Results For The First Quarter Ended March 31, 2026
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