CMRE - This High-Yield Dividend Stock Could Be One to Hold Forever
Monaco-based container shipping giant Costamare (NYSE: CMRE) has a 48-year history of navigating rough economic seas and continuing to perform.
In 2014, its stock took a hit but still weathered the storm of labor contract disruptions that left many shipping companies floundering and resulted in massive pileups at ports worldwide. By 2019, a strong recovery for its fleet helped the stock handily beat the S&P 500 average return (117% versus 28.9% for the year). But not long after dark clouds gathered once more.
As the pandemic struck in early 2020, Costamare's share prices followed the rest of the market and bottomed out, but changes the company made in its operations placed it in a strong position for growth when lockdowns began to ease in the second half of 2021 and the world started moving goods in earnest again. By 2021, Costamare had added transport of dry bulk goods to its ledger, moving into a second major shipping market alongside its lucrative container shipping model.
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This High-Yield Dividend Stock Could Be One to Hold Forever