Global Ship Lease, Inc. (GSL) To Go Ex-Dividend on February 24th

Global Ship Lease, Inc. (NYSE:GSL) announced a quarterly dividend on Wednesday, February 12th, RTT News reports. Stockholders 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 dividend yield of 7.93%. 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. 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 Price Performance

Shares of NYSE:GSL opened at $22.69 on Friday. The business’s 50 day simple moving average is $21.88 and its 200-day simple moving average is $23.53. The firm has a market capitalization of $836.17 million, a price-to-earnings ratio of 2.51 and a beta of 1.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. Global Ship Lease has a 12 month low of $18.75 and a 12 month high of $30.32.

Wall Street Analyst Weigh In

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