Global Ship Lease, Inc. (GSL) to Issue Quarterly Dividend of $0.45 on March 6th

Global Ship Lease, Inc. (NYSE:GSL) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Monday, February 24th will be given a dividend of 0.45 per share by the shipping company on Thursday, March 6th. This represents a $1.80 annualized dividend and a yield of 8.00%. The ex-dividend date is Monday, February 24th.

Global Ship Lease has increased its dividend payment by an average of 28.1% annually over the last three years. Global Ship Lease has a payout ratio of 22.9% 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 $1.80 annual dividend with an expected future payout ratio of 19.1%.

Global Ship Lease Stock Performance

NYSE:GSL opened at $22.51 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. The firm has a market capitalization of $829.72 million, a price-to-earnings ratio of 2.49 and a beta of 1.53. The company’s 50-day moving average is $21.79 and its two-hundred day moving average is $23.63. Global Ship Lease has a 1-year low of $18.75 and a 1-year high of $30.32.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The firm had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. During the same period in the prior year, the business posted $2.33 EPS. Analysts forecast that Global Ship Lease will post 9.74 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GSL shares. Jefferies Financial Group restated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Monday, November 11th. StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th. Finally, Clarkson Capital lowered shares of Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a report on Thursday, November 14th.

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.