Global Ship Lease, Inc. Declares Quarterly Dividend of $0.63 (NYSE:GSL)

Global Ship Lease, Inc. (NYSE:GSL) declared a quarterly dividend on Wednesday, February 11th. Stockholders of record on Tuesday, February 24th will be paid a dividend of 0.625 per share by the shipping company on Friday, March 6th. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Tuesday, February 24th.

Global Ship Lease has a payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings. 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 $2.50 annual dividend with an expected future payout ratio of 26.6%.

Global Ship Lease Stock Performance

Shares of GSL opened at $37.78 on Thursday. The stock has a 50 day moving average of $35.69 and a 200 day moving average of $32.70. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 3.39 and a beta of 0.93. Global Ship Lease has a 12 month low of $17.73 and a 12 month high of $38.52. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 0.34.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Wednesday, November 12th. The shipping company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.35. The firm had revenue of $192.67 million during the quarter, compared to the consensus estimate of $180.36 million. Global Ship Lease had a return on equity of 23.98% and a net margin of 53.62%.The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Global Ship Lease will post 9.74 earnings per share 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.