Global Ship Lease Announces Quarterly Dividend
Global Ship Lease, Inc. (NYSE: GSL), a leading owner and operator in the containership charter market, announced its latest quarterly dividend. The Company’s Board of Directors has declared a cash dividend of $0.546875 per depositary share. Each depositary share represents a 1/100th interest in a share of the Company’s 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares (the Series B Preferred Shares).
Dividend Timing and Eligibility
The declared dividend covers the period from July 1 through September 30 of the current financial year. Holders of the Series B Preferred Shares as of the record date of September 24 will receive payment on October 1. This regular return of capital underscores Global Ship Lease’s focus on steady distributions and disciplined financial stewardship.
What Global Ship Lease Does
Since December 2007, Global Ship Lease has operated as a dedicated containership charter owner. Incorporated in the Marshall Islands, the Company acquires and charters containerships on fixed-rate contracts to leading container liner companies. Its listing on the New York Stock Exchange in August 2008 marked an important milestone and broadened access to the capital markets that support its charter-led strategy.
Fleet and Capacity
As of mid-2024, Global Ship Lease’s fleet comprises 68 containerships ranging from 2,207 to 11,040 TEU. Together, these vessels provide an aggregate capacity of 376,723 TEU, with 36 ships categorized as wide-beam Post-Panamax. The scale and mix of the fleet highlight the Company’s ability to meet a variety of charter needs across vessel sizes while maintaining breadth and flexibility.
Revenue Visibility and Charter Coverage
The Company reports strong revenue visibility. On a TEU-weighted basis, the average remaining term of its charters is approximately 2.2 years, supporting predictable cash flows. Based on this coverage, contracted revenue totals $1.77 billion. Including options controlled by charterers, total contracted revenue increases to $2.13 billion, with a TEU-weighted average remaining term of 2.8 years. Together, these figures point to durable demand for the fleet under fixed-rate charters.
Focus on Shareholders
Global Ship Lease continues to emphasize shareholder value through consistent dividends and clear communication. By aligning capital allocation with charter coverage and maintaining transparency with investors, the Company reinforces confidence and supports a stable market profile.
Looking Ahead
The Company remains focused on optimizing its fleet and driving operating efficiency. By staying close to market conditions and aligning decisions with emerging trends, Global Ship Lease aims to navigate industry cycles responsibly and position the fleet where it can be most effective.
Investor Contacts
For additional information, investor inquiries may be directed to The IGB Group. Contact Bryan Degnan at 646-673-9701 or Leon Berman at 212-477-8438.
Frequently Asked Questions
How much is the dividend, and what does a depositary share represent?
The declared dividend is $0.546875 per depositary share. Each depositary share represents a 1/100th interest in a share of the Company’s 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares.
What period does this dividend cover, and when will it be paid?
The dividend covers the period from July 1 through September 30. It will be paid on October 1 to holders of record as of September 24.
What is Global Ship Lease’s core business?
Global Ship Lease owns and charters containerships under fixed-rate contracts to leading container liner companies. The Company was formed in December 2007, is incorporated in the Marshall Islands, and has been listed on the New York Stock Exchange since August 2008.
How large is the fleet, and what is its capacity?
As of mid-2024, the fleet includes 68 ships, ranging from 2,207 to 11,040 TEU, for a total capacity of 376,723 TEU. This includes 36 wide-beam Post-Panamax vessels.
Who can I contact for investor-related questions?
Please reach out to The IGB Group: contact Bryan Degnan at 646-673-9701 or Leon Berman at 212-477-8438 for assistance.
