Costamare bought five vessels and increased its dividend by 15% on the back of soaring profitability in a red-hot containership market.

The owner of more than 80 boxships announced on Tuesday that its board of directors is due to approve a distribution of $0.115 per share from the second quarter of 2021.

Costamare, which has been paying dividends uninterruptedly since listing in New York 11 years ago, has been paying out $0.10