Global Ship Lease Inc Stock Price, News & Analysis

Global Ship Lease, Inc. (NYSE:GSL) has declared a cash dividend of $0.546875 per depositary share for the period from January 1 to March 31, 2023. The dividend will be paid on April 3, 2023 to shareholders on record as of March 27, 2023. The company operates a diversified fleet of 65 containerships with a total capacity of 342,348 TEU. As of December 31, 2022, contracted revenue stood at $2.09 billion with an average charter term of 2.7 years. This announcement reflects the company's ongoing commitment to returning value to shareholders.

Global Ship Lease reported a significant increase in financial performance for 2022, with operating revenue rising 44.1% to $645.6 million and net income available to common shareholders increasing 73.7% to $283.4 million. The company declared a quarterly dividend of $0.375 per share and added $21.7 million in firm contracted revenues from new charters. Adjusted EBITDA climbed 68.6% to $398.3 million. The company also repurchased shares totaling $30.0 million under its buy-back program. Despite positive results, management acknowledged ongoing challenges in the container shipping industry.

Global Ship Lease (NYSE:GSL) announced a conference call for discussing its fourth quarter and full year 2022 results on March 1, 2023, at 10:30 a.m. Eastern Time. Financial results will be released before market trading opens on the same day. The call will be accessible via a dial-in number or a live webcast. As of December 29, 2022, Global Ship Lease owned 65 containerships with a total capacity of 342,348 TEU. The company reported contracted revenue of $2.65 billion, with an average charter remaining term of 3.7 years. These results and future guidance will provide insights into the company's strategic direction.

Global Ship Lease has announced a dividend of $0.375 per Class A common share for Q4 2022, payable on March 6, 2023, to shareholders of record as of February 22, 2023. This follows the company’s commitment to rewarding its shareholders, reflecting ongoing confidence in its business model. As of December 29, 2022, Global Ship Lease operated a fleet of 65 containerships with a total capacity of 342,348 TEU and a robust contracted revenue of $2.23 billion, indicating a strong operational footing. The average remaining term of charters is approximately 2.9 years.

Global Ship Lease (NYSE: GSL) reconvened its 2022 Annual Meeting of Shareholders on February 2, 2023, to vote on Proposal Three, which sought to establish a quorum of one-third of shareholder votes. Despite approximately 89% support from Class A common shares, the proposal failed to secure a majority approval and was not adopted. The meeting will not be adjourned further. As of December 29, 2022, Global Ship Lease owns 65 containerships with a capacity of 342,348 TEU and has contracted revenue of $2.65 billion, with an average charter term of 3.7 years.

Global Ship Lease reconvenes its 2022 Annual Meeting on February 2, 2023, to vote on Proposal Three, which sets a quorum of one-third of the shares present for shareholder meetings. As of January 5, 2023, about 88% of Class A shares voted supportively, but the proposal needs a majority approval. The meeting is set for 6:00 p.m. local time in Athens, Greece. Shareholders are urged to submit proxies ahead of the reconvened meeting, maintaining the October 17, 2022 record date.

Global Ship Lease (NYSE:GSL) declared a cash dividend of $0.546875 per depositary share for its 8.75% Series B Preferred Shares. This dividend covers the period from October 1 to December 31, 2022, and will be distributed on January 3, 2023, to shareholders on record by December 23, 2022. As of November 8, 2022, Global Ship Lease owned 65 containerships with a total capacity of 342,348 TEU. The company has contracted revenue of $2.65 billion with a weighted average remaining charter term of 3.7 years.

Global Ship Lease reconvened its 2022 Annual Meeting on January 5, 2023, to address Proposal Three regarding quorum requirements for shareholder meetings. The meeting, held in Athens, saw the re-election of directors Michael Chalkias and George Giouroukos until 2025 and ratified PricewaterhouseCoopers S.A. as the independent accounting firm for fiscal year 2022. Additional time was provided for shareholders to vote on Proposal Three, which lacked majority support as of December 7, 2022. Shareholders are encouraged to review proxy materials for voting details.

Global Ship Lease (GSL) reported a strong third quarter in 2022, citing a 24.5% rise in operating revenue to $172.5 million and a 42.4% increase in net income, reaching $89.6 million.

For the nine months ended September 30, revenues surged 63.2% to $480.6 million, while net income soared 117.1% to $210.8 million. GSL declared a dividend of $0.375 per share, to be paid on December 2, 2022. The company secured $770.6 million in new charter contracts, improving its revenue visibility. GSL's conservative financial management is evidenced by reduced debt costs and no refinancing needs until 2026.