Global Ship Lease, Inc. (NYSE:GSL) Raises Dividend to $0.63 Per Share

Global Ship Lease, Inc. (NYSE:GSL) declared a quarterly dividend on Monday, November 10th. Investors of record on Friday, November 21st will be paid a dividend of 0.625 per share by the shipping company on Thursday, December 4th. This represents a c) annualized dividend and a dividend yield of 7.2%. The ex-dividend date is Friday, November 21st. This is a 14.3% increase from Global Ship Lease’s previous quarterly dividend of $0.55.

Global Ship Lease has a dividend payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Global Ship Lease to earn $9.40 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 22.3%.

Global Ship Lease Stock Up 9.5%

GSL stock opened at $34.69 on Tuesday. The company has a 50 day moving average price of $30.54 and a two-hundred day moving average price of $28.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.94 and a current ratio of 2.01. The stock has a market capitalization of $1.24 billion, a P/E ratio of 3.22 and a beta of 1.20. Global Ship Lease has a one year low of $17.73 and a one year high of $34.77.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Monday, November 10th. The shipping company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.35. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%.The business had revenue of $192.67 million during the quarter, compared to the consensus estimate of $180.36 million. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts expect that Global Ship Lease will post 9.74 EPS for the current year.

About Global Ship Lease

Global Ship Lease, Inc, together with its subsidiaries, engages in owning and chartering of containerships under fixed-rate charters to container shipping companies worldwide. As of March 11, 2024, it owned 68 mid-sized and smaller containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 375,406 TEU.