Global Ship Lease, Inc. (GSL) to Issue Quarterly Dividend of $0.69 on December 3rd

Global Ship Lease, Inc. (NYSE:GSL) announced a quarterly dividend on Monday, November 9th. Investors of record on Friday, November 20th will be paid a dividend of $0.6875 per share by the shipping company on Thursday, December 3rd. This represents a $2.75 annualized dividend and a yield of 6.5%. The ex-dividend date is Friday, November 20th. This is a 10.0% increase from Global Ship Lease’s previous quarterly dividend of $0.6250.

Global Ship Lease has a payout ratio of 27.4% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 2.6%

NYSE GSL opened at $42.27 on Wednesday. The stock’s 50 day moving average is $43.60 and its 200 day moving average is $40.66. The company has a current ratio of 2.13, a quick ratio of 2.06 and a debt-to-equity ratio of 0.27. Global Ship Lease has a 12 month low of $32.74 and a 12 month high of $46.57. The stock has a market cap of $1.52 billion, a PE ratio of 4.00 and a beta of 1.03.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Monday, November 9th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.29. Global Ship Lease had a net margin of 49.38% and a return on equity of 19.79%. The business had revenue of $201.36 million during the quarter, compared to analyst estimates of $189.00 million. During the same period last year, the firm posted $2.62 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Research analysts predict that Global Ship Lease will post 9.62 EPS for the current fiscal year.

Global Ship Lease Company Profile

Global Ship Lease is a containership owner that leases vessels to container shipping companies under charter agreements. Its fleet includes ships of various sizes, serving the needs of operators on international trade routes. Founded in 2007, the company became publicly listed in 2008 and expanded its business through acquisitions, including its 2018 acquisition of Poseidon Containers. Global Ship Lease’s vessels operate worldwide through the shipping companies that charter them.