Global Ship Lease, Inc. (NYSE:GSL) Declares Quarterly Dividend of $0.53

Key Points

• Global Ship Lease, Inc. has declared a quarterly dividend of $0.53 per share, set to be paid on September 4th to investors of record on August 22nd, with a current annual yield of 6.9%.
• The company reported strong earnings, with $2.65 EPS last quarter, exceeding analyst expectations significantly, and forecasts an earnings per share of $9.74 for the current year.
• Global Ship Lease operates a fleet of 68 containerships and has a solid dividend payout ratio of 23.0%, indicating that its dividend is well-supported by its earnings.

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Investors of record on Friday, August 22nd will be paid a dividend of 0.525 per share by the shipping company on Thursday, September 4th. This represents a c) dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Friday, August 22nd.

Global Ship Lease has a dividend payout ratio of 23.0% 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 $2.10 annual dividend with an expected future payout ratio of 22.3%.

Global Ship Lease Price Performance

NYSE:GSL traded up $1.20 during trading hours on Wednesday, reaching $30.36. 904,317 shares of the company were exchanged, compared to its average volume of 383,515. The company has a market capitalization of $1.08 billion, a P/E ratio of 2.87 and a beta of 1.21. Global Ship Lease has a 1-year low of $17.73 and a 1-year high of $30.98. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.77 and a quick ratio of 1.71. The business has a 50 day moving average of $26.90 and a 200 day moving average of $23.80.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings results on Monday, May 19th. The shipping company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.38. Global Ship Lease had a net margin of 53.31% and a return on equity of 25.56%. The company had revenue of $190.98 million for the quarter, compared to the consensus estimate of $171.73 million. During the same period last year, the company posted $2.53 EPS. Research analysts forecast 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.

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