GSL Increases Dividend by 10%
Global Ship Lease raised its quarterly dividend 10% to $0.6875 per share ($2.75 annualized), a 6.7% yield. The dividend is payable December 3 to shareholders of record November 20.
The dividend appears well covered: the current payout ratio is 27.4%, and analysts forecast a 24.8% payout ratio based on next year’s expected earnings.
Quarterly results beat estimates, with EPS of $2.75 versus $2.46 expected and revenue of $201.36 million versus $189 million expected; revenue grew 4.5% year over year.
