Global Ship Lease Inc Stock Price, News & Analysis

Global Ship Lease (NYSE:GSL) has declared a cash dividend of $0.546875 per depositary share for its 8.75% Series B Preferred Shares, covering the period from October 1 to December 31, 2021. This dividend will be paid on January 3, 2022, to shareholders of record as of December 27, 2021. The company owns 65 containerships with an aggregate capacity of 342,348 TEU and has contracted revenue of approximately $2.1 billion.

Global Ship Lease (GSL) has announced a 50% increase in its quarterly dividend to $0.375 per share, effective Q1 2022, marking a more than threefold rise since January 2021. This decision comes alongside new five-year charters for the Eco 9,115 TEU vessels, Al Khor and Maira XL, expected to generate approximately $206 million in Adjusted EBITDA. The company's total contracted revenue now stands at $1.85 billion. These developments reflect GSL's strategy to secure cash flow in a robust charter market and enhance shareholder value.

Global Ship Lease (NYSE:GSL) announced its Q3 2021 results, reporting operating revenue of $138.6 million with a net income available to common shareholders of $62.9 million. The company has expanded its fleet by over 50% in 2021, delivering 23 new vessels on charter. A quarterly dividend of $0.25 per share has been declared, payable on December 2, 2021. Adjusted EBITDA reached $72.7 million for Q3. Furthermore, under its ATM program, GSL raised a total of $71.4 million since inception, securing non-dilutive funding.

Global Ship Lease (NYSE:GSL) has announced a conference call to discuss its third-quarter results on November 10, 2021, at 10:30 a.m. Eastern Time. The company will release its financial results before market opening on the same day. As of August 31, 2021, GSL owned a fleet of 61 containerships and contracted to purchase four additional vessels, totaling 65 ships with a capacity of 342,378 TEU. Contracted revenue stood at $1.61 billion, with an average remaining charter term of 3.1 years.

Global Ship Lease (NYSE:GSL) has joined over 150 maritime industry leaders in a call to action for global decarbonization of shipping by 2050. The initiative urges governments to establish policies and investments necessary for zero-emission shipping and for implementing the IMO GHG Strategy in 2023. Specific goals include making zero-emission shipping the default choice by 2030 and providing support for industrial-scale zero-emission projects. Executive Chairman George Youroukos emphasized the urgency for government action as global trade heavily relies on maritime transport, accounting for 80% of trade.

Global Ship Lease has declared a cash dividend of $0.546875 per depositary share, representing a 1/100th interest in its 8.75% Series B Preferred Shares. This dividend, covering the period from July 1, 2021, to September 30, 2021, will be paid on October 1, 2021 to shareholders on record as of September 24, 2021.

As of August 31, 2021, the company owns 61 containerships and has contracted to purchase 4 more, increasing its fleet to 65 ships with a total capacity of 342,378 TEU.

Global Ship Lease (NYSE:GSL) announced significant share transactions involving its Executive Chairman, George Youroukos. He purchased 521,650 Class A common shares at $19.17 each, increasing his holdings to 6.4% of shares outstanding. The company also repurchased an equal number of shares for retirement, reducing total outstanding shares to 36,216,803. This transaction, conducted through B. Riley Financial, reflects the company's confidence in its strong cash flow and market position. With a robust chartering pipeline and a fleet expansion, GSL aims to enhance shareholder value.

Global Ship Lease (NYSE:GSL) announced an upgrade in its long-term issuer credit rating by S&P Global Ratings from B+ to BB- with a stable outlook. This upgrade reflects the company's increased scale, diversification, and favorable charter rates, along with strong expectations for EBITDA and free cash flow. Executive Chairman George Youroukos emphasized the positive growth trajectory and improvements in the company's financial metrics, indicating a robust market position and long-term strategic growth prospects.

LONDON, Aug. 5, 2021 – Global Ship Lease (NYSE: GSL) announced the election of three Term I Directors, Philippe Lemonnier, Henry Mannix III, and Alain Pitner, during its 2021 Annual Meeting of Shareholders in Athens. These directors will serve until the 2024 Annual Meeting. The appointment of PricewaterhouseCoopers S.A. as the independent public accounting firm for the fiscal year ending December 31, 2021, was also ratified. As of August 5, GSL owns 61 containerships and has contracted to purchase four more, increasing its fleet capacity significantly.