Global Ship Lease, Inc. (NYSE:GSL) to Issue Quarterly Dividend of $0.62

Global Ship Lease, Inc. (NYSE:GSLGet Free Report) announced a quarterly dividend on Thursday, July 30th. Investors of record on Friday, August 21st will be paid a dividend of 0.625 per share by the shipping company on Thursday, September 3rd. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Friday, August 21st.

Global Ship Lease has a payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Global Ship Lease to earn $10.10 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 24.8%.

Global Ship Lease Price Performance

GSL stock opened at $43.20 on Wednesday. The company has a quick ratio of 2.06, a current ratio of 2.13 and a debt-to-equity ratio of 0.27. Global Ship Lease has a 52-week low of $27.28 and a 52-week high of $44.69. The stock’s 50 day moving average is $40.66 and its two-hundred day moving average is $39.41. The company has a market capitalization of $1.55 billion, a PE ratio of 4.15 and a beta of 0.90.

Global Ship Lease (NYSE:GSLGet Free Report) last released its earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.06. The company had revenue of $198.69 million during the quarter, compared to the consensus estimate of $186.85 million. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.67 EPS. Analysts predict that Global Ship Lease will post 9.62 earnings per share for the current fiscal year.

Global Ship Lease Company Profile

(Get Free Report)

Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.

See Also

Dividend History for Global Ship Lease (NYSE:GSL)

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