Global Ship Lease, Inc. (GSL) To Go Ex-Dividend on May 22nd

Global Ship Lease, Inc. (NYSE:GSLGet Free Report) declared a quarterly dividend on Monday, May 11th. Shareholders of record on Friday, May 22nd will be given a dividend of 0.625 per share by the shipping company on Wednesday, June 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, May 22nd.

Global Ship Lease has a dividend payout ratio of 27.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Global Ship Lease to earn $10.93 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 22.9%.

Global Ship Lease Trading Down 2.6%

Global Ship Lease stock opened at $40.23 on Wednesday. The stock has a market cap of $1.44 billion, a P/E ratio of 3.53 and a beta of 0.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.04 and a quick ratio of 2.00. Global Ship Lease has a 1 year low of $23.95 and a 1 year high of $42.70. The firm’s 50 day moving average price is $39.05 and its 200-day moving average price is $36.98.

Global Ship Lease (NYSE:GSLGet Free Report) last released its quarterly earnings data on Thursday, March 5th. The shipping company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.01. The firm had revenue of $190.95 million for the quarter, compared to analysts’ expectations of $188.39 million. Global Ship Lease had a net margin of 54.33% and a return on equity of 22.35%. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts predict that Global Ship Lease will post 9.68 earnings per share for the current fiscal year.

About Global Ship Lease

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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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