Costamare (NYSE:CMRE) has decided not to veer from its existing dividend course. The company declared a quarterly payout of $0.27 per share of its stock, to be paid on May 8 to shareholders of record as of April 24. That amount matches its previous six disbursements. It is also an improvement of $0.02 on Costamare's inaugural dividend payments, which the company began to hand out in Jan. 2011.
The firm had 74.8 million shares of stock outstanding as of the day the dividend was announced. This amounts to a total payout of just under $20.2 million.
The dividend annualizes to $1.08 per share. That yields 6.8% at Costamare's current stock price of $15.88.
Fool contributor Eric Volkman has no position in Costamare, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.