Costamare (CMRE) Lowers Quarterly Dividend 65.5% to $0.10; Enters New Financing Arrangements

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Go back to Costamare (CMRE) Lowers Quarterly Dividend 65.5% to $0.10; Enters New Financing Arrangements

Costamare Inc. Announces New Financing Arrangements and Dividend Adjustment

October 4, 2016 8:15 AM EDT

MONACO -- (Marketwired) -- 10/04/16 -- Costamare Inc. ("Costamare" or the "Company") (NYSE: CMRE) announced today the following:

(A) New Financing Arrangements

1. In August 2016, we entered into a loan agreement with a leading European financial institution for the financing of the third and fourth 11,000 TEU vessels on order, acquired under our JV with York Capital. The facility is for an amount of up to US $ 87 million which will be repayable over 3 years. The proceeds are expected to finance the remaining yard installments for the two... More