Company: CMRE-PC
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001140361-25-005199
Chunk: 147

Company: Costamare Inc.
Filing Date: 2025-02-20
Form: 20-F
Item: Item 5
Chunk 147
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 in investing activities was $79.5 million in the year ended December 31, 2024, which mainly consisted of (i) a settlement payment for the delivery of the secondhand dry bulk vessel Miracle, (ii) payments for the acquisition of the secondhand dry bulk vessels Prosper, Frontier, Magnes, Alwine and August, (iii) payments for upgrades for certain of our container and dry bulk vessels and (iv) net payments for investments into which NML entered; partly offset by proceeds we received from the sale of the dry bulk vessels Manzanillo, Progress, Konstantinos, Merida, Alliance, Pegasus, Adventure, Oracle, Titan I and Discovery.
 
Net cash provided by investing activities was $79.1 million in the year ended December 31, 2023, which mainly consisted of proceeds we received from (i) the sale of the container vessels Sealand Washington, Maersk Kalamata and Oakland and the dry bulk vessels Miner, Taibo, Comity, Peace, Pride and Cetus and (ii) the maturity of our short-term investments in US Treasury Bills; partly off-set by payments for the purchase of short-term investments in US Treasury Bills, payments for upgrades for certain of our container and dry bulk vessels, payments for the acquisition of the secondhand dry bulk vessels Enna, Dorado and Arya, an advance payment for the acquisition of the secondhand dry bulk vessel Iron Miracle (“Miracle”) and net payments for investments into which NML entered.
 
Net Cash Used in Financing Activities
 
Net cash used in financing activities was $505.5 million in the year ended December 31, 2024, which mainly consisted of (i) $209.0 million net payments relating to our debt financing agreements and finance lease liability agreement (including proceeds of $528.0 million we received from 18 debt financing agreements), (ii) $116.0 million we paid, in aggregate, for the full redemption of our Series E Preferred Stock, (iii) $105.0 million we paid for the full prepayment of our unsecured bond loan, (iv) $43.6 million we paid for dividends to holders of our common stock for the fourth quarter of 2023, the first quarter of 2024, the second quarter of 2024 and the third quarter of 2024 and (v) $3.8 million we paid for dividends to holders of our Series B Preferred Stock, $8.5 million we paid for dividends