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

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

Global Ship Lease has a payout ratio of 27.4% indicating that 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 Price Performance

NYSE GSL opened at $43.20 on Wednesday. The company has a 50-day moving average price of $40.66 and a two-hundred day moving average price of $39.41. Global Ship Lease has a 52 week low of $27.28 and a 52 week high of $44.69. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 4.15 and a beta of 0.90. 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 (NYSE:GSL) last released its quarterly 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. The company had revenue of $198.69 million for the quarter, compared to analysts’ expectations of $186.85 million. Global Ship Lease had a return on equity of 19.92% and a net margin of 49.10%.The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.67 earnings per share. Analysts forecast that Global Ship Lease will post 9.62 EPS for the current year.

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.