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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source