Global Ship Lease, Inc. (NYSE:GSL) Raises Dividend to $0.55 Per Share

Key Points

• Global Ship Lease, Inc. announced a quarterly dividend of $0.55 per share, marking a 4.2% increase from its previous dividend of $0.53.
• The company has a comfortable payout ratio of 23.0%, indicating that earnings sufficiently cover the dividend payments.
• Global Ship Lease reported impressive earnings of $2.67 per share for the latest quarter, exceeding estimates by $0.52.

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) announced a quarterly dividend on Wednesday, September 10th, RTT News reports. Investors of record on Wednesday, September 24th will be paid a dividend of 0.5469 per share by the shipping company on Wednesday, October 1st. This represents a c) annualized dividend and a yield of 7.0%. This is a 4.2% increase from Global Ship Lease's previous quarterly dividend of $0.53.

Global Ship Lease has a 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 Trading Down 1.1%

NYSE GSL opened at $31.30 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.94 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $29.27 and a 200 day simple moving average of $25.31. Global Ship Lease has a 12 month low of $17.73 and a 12 month high of $31.78. The firm has a market capitalization of $1.11 billion, a P/E ratio of 2.91 and a beta of 1.12.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.52. The firm had revenue of $191.86 million during the quarter, compared to analyst estimates of $177.98 million. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. On average, analysts predict that Global Ship Lease will post 9.74 EPS for the current fiscal year.

Global Ship Lease Company Profile

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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