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

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors 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 7.96%. The ex-dividend date of this dividend is Monday, February 24th.

Global Ship Lease has raised its dividend 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. Equities 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 Stock Performance

Shares of Global Ship Lease stock traded up $0.13 on Friday, hitting $22.63. 292,066 shares of the company's stock were exchanged, compared to its average volume of 289,989. Global Ship Lease has a 1 year low of $18.75 and a 1 year high of $30.32. The company has a 50-day simple moving average of $21.81 and a 200-day simple moving average of $23.59. 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 stock has a market capitalization of $833.96 million, a PE ratio of 2.51 and a beta of 1.53.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GSL shares. StockNews.com downgraded Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 25th. Clarkson Capital lowered shares of Global Ship Lease from a "buy" rating to a "neutral" rating and set a $27.00 price target for the company. in a research report on Thursday, November 14th. Finally, Jefferies Financial Group restated a "buy" rating and set a $29.00 price objective on shares of Global Ship Lease in a research report on Monday, November 11th.

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.