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

Key Points

• Global Ship Lease declared a quarterly dividend of $0.625 per share, payable September 3 to shareholders of record on August 21. The dividend equates to approximately $2.50 annually and a 5.8% yield.
• The dividend appears well covered, with a current payout ratio of 27.4% and an expected future payout ratio of 24.8% based on projected earnings.
• Global Ship Lease reported quarterly earnings of $2.48 per share, beating analysts’ $2.42 estimate, while revenue rose 3.9% year over year to $198.69 million.

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) announced a quarterly dividend on Thursday, July 30th. Investors 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 is Friday, August 21st.

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 $10.10 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. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 4.15 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.13 and a quick ratio of 2.06. Global Ship Lease has a 12 month low of $27.28 and a 12 month high of $44.69. The company's fifty day moving average price is $40.66 and its two-hundred day moving average price is $39.41.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.06. The company had revenue of $198.69 million during the quarter, compared to the consensus estimate of $186.85 million. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. The company's revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.67 EPS. As a group, research analysts predict that Global Ship Lease will post 9.62 earnings per share for the current fiscal year.

About Global Ship Lease

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.

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