Global Ship Lease, Inc. Declares Quarterly Dividend of $0.45 (NYSE:GSL)

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 paid 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 7.93%. The ex-dividend date is Monday, February 24th.

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

Global Ship Lease Trading Down 1.7 %

Shares of GSL opened at $22.69 on Friday. The stock has a fifty day moving average of $21.88 and a two-hundred day moving average of $23.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. The company has a market capitalization of $836.17 million, a PE ratio of 2.51 and a beta of 1.53. Global Ship Lease has a fifty-two week low of $18.75 and a fifty-two week high of $30.32.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GSL shares. Clarkson Capital downgraded Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a report on Thursday, November 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a report on Monday, November 11th. Finally, StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th.

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.