Costamare Inc. (CMRE) Shares Soar 8.96% After Spin-Off Plans

Costamare Inc. (CMRE) shares surged by 8.96% today, marking a significant rebound after the stock price hit its lowest level since June 2023, with an intraday decline of 3.11%.

Costamare Inc. has recently announced plans for a proposed spin-off, aiming to unlock the inherent value within the two resulting companies. This strategic move includes the listing of Costamare Bulkers on the New York Stock Exchange, which is expected to enhance visibility and attract more investment opportunities. The company's decision to unveil growth plans during a virtual investor day has also garnered attention, potentially influencing investor sentiment and stock performance positively.

Additionally, Costamare Inc. declared a quarterly dividend of $0.12, which could further boost investor interest, particularly among those focused on income. Dividends are a key factor for many investors, and this announcement may contribute to a more favorable outlook for the stock.