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

Global Ship Lease, Inc. (NYSE:GSL) declared a quarterly dividend on Wednesday, February 11th. Shareholders 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. Research 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 Price Performance

GSL stock opened at $37.78 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.14 and a current ratio of 2.19. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 3.39 and a beta of 0.93. The firm has a 50 day moving average price of $35.69 and a 200-day moving average price of $32.70. Global Ship Lease has a 52-week low of $17.73 and a 52-week high of $38.52.

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. Global Ship Lease had a return on equity of 23.98% and a net margin of 53.62%.The business had revenue of $192.67 million during the quarter, compared to analysts’ expectations of $180.36 million. The business’s revenue was up 10.7% compared to the same quarter last year. Equities research analysts forecast that Global Ship Lease will post 9.74 EPS for the current fiscal 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.