Global Ship Lease, Inc. (GSL) to Issue Quarterly Dividend of $0.62 on September 3rd

Global Ship Lease, Inc. (NYSE:GSL) declared a quarterly dividend on Thursday, July 30th. Stockholders 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 dividend payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.4%

NYSE:GSL opened at $43.20 on Wednesday. Global Ship Lease has a 1-year low of $27.28 and a 1-year high of $44.69. The stock has a fifty day simple moving average of $40.66 and a 200 day simple moving average of $39.41. The company has a quick ratio of 2.06, a current ratio of 2.13 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 4.15 and a beta of 0.90.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.06. Global Ship Lease had a return on equity of 19.92% and a net margin of 49.10%.The company had revenue of $198.69 million for the quarter, compared to the consensus estimate of $186.85 million. During the same quarter in the prior year, the company earned $2.67 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Sell-side analysts forecast that Global Ship Lease will post 9.62 earnings per share for the current year.

Institutional Trading of Global Ship Lease

Institutional investors and hedge funds have recently modified their holdings of the company. Triumph Capital Management acquired a new position in Global Ship Lease during the 3rd quarter worth $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Global Ship Lease in the 4th quarter valued at approximately $29,000. Hilton Head Capital Partners LLC bought a new position in Global Ship Lease in the 4th quarter worth approximately $35,000. SHP Wealth Management bought a new position in Global Ship Lease in the 4th quarter worth approximately $35,000. Finally, Strengthening Families & Communities LLC acquired a new position in shares of Global Ship Lease during the fourth quarter worth approximately $55,000. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Global Ship Lease Company Profile

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.