Global Ship Lease, Inc. (GSL) to Issue Quarterly Dividend of $0.63 on March 6th

Global Ship Lease, Inc. (NYSE:GSL) declared a quarterly dividend on Wednesday, February 11th. Stockholders 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 6.7%. The ex-dividend date is Tuesday, February 24th.

Global Ship Lease has a dividend payout ratio of 27.4% 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 $2.50 annual dividend with an expected future payout ratio of 26.6%.

Global Ship Lease Trading Down 1.7%

Global Ship Lease stock opened at $37.15 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 0.34. Global Ship Lease has a 52 week low of $17.73 and a 52 week high of $38.52. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 3.33 and a beta of 0.93. The stock has a 50-day moving average price of $35.70 and a 200 day moving average price of $32.73.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Wednesday, November 12th. The shipping company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.35. Global Ship Lease had a net margin of 53.62% and a return on equity of 23.98%. The company had revenue of $192.67 million for the quarter, compared to the consensus estimate of $180.36 million. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts anticipate that Global Ship Lease will post 9.74 EPS for the current 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.