Global Ship Lease (GSL) Declares $0.38 Dividend

Global Ship Lease said on February 9, 2023 that its board of directors declared a regular quarterly dividend of $0.38 per share ($1.50 annualized). Shareholders of record as of February 21, 2023 will receive the payment on March 6, 2023. Previously, the company paid $0.38 per share.

At the current share price of $19.18 / share, the stock's dividend yield is 7.82%. Looking back five years and taking a sample every week, the average dividend yield has been 6.37%, the lowest has been 3.69%, and the highest has been 9.78%. The standard deviation of yields is 1.88 (n=80).

The current dividend yield is 0.77 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.19. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

Analyst Price Forecast Suggests 64.86% Upside

As of February 11, 2023, the average one-year price target for Global Ship Lease is $31.62. The forecasts range from a low of $25.25 to a high of $39.90. The average price target represents an increase of 64.86% from its latest reported closing price of $19.18.

The projected annual revenue for Global Ship Lease is $652MM, an increase of 11.88%. The projected annual EPS is $8.71, an increase of 15.04%.

What is the Fund Sentiment?

There are 112 funds or institutions reporting positions in Global Ship Lease. This is a decrease of 12 owner(s) or 9.68% in the last quarter. Average portfolio weight of all funds dedicated to GSL is 0.38%, an increase of 48.72%. Total shares owned by institutions decreased in the last three months by 7.06% to 17,550K shares. The put/call ratio of GSL is 0.20, indicating a bullish outlook.

What are large shareholders doing?

Punch & Associates Investment Management holds 1,860K shares representing 5.12% ownership of the company. In it's prior filing, the firm reported owning 1,866K shares, representing a decrease of 0.33%. The firm decreased its portfolio allocation in GSL by 4.98% over the last quarter.

Marshall Wace, Llp holds 1,571K shares representing 4.33% ownership of the company. In it's prior filing, the firm reported owning 767K shares, representing an increase of 51.17%. The firm increased its portfolio allocation in GSL by 48.49% over the last quarter.

Whitefort Capital Management holds 1,412K shares representing 3.89% ownership of the company. In it's prior filing, the firm reported owning 743K shares, representing an increase of 47.36%. The firm increased its portfolio allocation in GSL by 61.70% over the last quarter.

Goldman Sachs Group holds 1,411K shares representing 3.89% ownership of the company. In it's prior filing, the firm reported owning 2,017K shares, representing a decrease of 42.99%. The firm decreased its portfolio allocation in GSL by 31.65% over the last quarter.

Nokomis Capital, L.L.C. holds 1,198K shares representing 3.30% ownership of the company. In it's prior filing, the firm reported owning 1,082K shares, representing an increase of 9.73%. The firm increased its portfolio allocation in GSL by 15.27% over the last quarter.

Global Ship Lease Background Information
(This description is provided by the company.)

Global Ship Lease is a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under fixed-rate charters to top tier container liner companies. On November 15, 2018, it completed a strategic combination with Poseidon Containers.

This story originally appeared on Fintel.