Global Ship Lease declares a $0.45 dividend for Q4 2024, payable March 6, 2025.
Quiver AI Summary
Global Ship Lease, Inc. announced a quarterly dividend of $0.45 per Class A common share for Q4 2024, set to be paid on March 6, 2025, to shareholders on record by February 24, 2025. As of September 30, 2024, the company owned a fleet of 68 containerships with a total capacity of 376,723 TEU, and has a diversified portfolio that includes mid-sized and smaller vessels. The average remaining charter term is 2.3 years, with contracted revenue at $1.78 billion, and $2.15 billion when accounting for options controlled by charterers. The release includes forward-looking statements regarding the company’s future expectations, which may carry risks that could lead to differing actual results.
Potential Positives
- The declaration of a dividend of $0.45 per Class A common share demonstrates the company's commitment to returning value to its shareholders.
- The dividend payment, scheduled for March 6, 2025, provides shareholders with tangible returns in a timely manner.
- The company has a significant contracted revenue of $2.15 billion, showcasing strong future cash flow and operational stability.
- The average remaining term of the Company's charters is 2.8 years, indicating long-term revenue visibility and a stable business model.
Potential Negatives
- The company is emphasizing a dividend distribution which may suggest limited reallocations for growth or investment, raising concerns about long-term financial sustainability.
- The reliance on fixed-rate charters with a remaining average term of 2.3 years could indicate potential revenue instability as contracts come to an end.
- The presence of forward-looking statements accompanied by disclaimers regarding uncertainties may signal to investors that future performance is unpredictable and potentially risky.
FAQ
What is the dividend declared by Global Ship Lease for Q4 2024?
The dividend announced by Global Ship Lease for the fourth quarter of 2024 is $0.45 per Class A common share.
When will Global Ship Lease pay the dividend?
The dividend will be paid on March 6, 2025, to shareholders of record as of February 24, 2025.
How many containerships does Global Ship Lease own?
As of September 30, 2024, Global Ship Lease owned a total of 68 containerships.
What is the average remaining term of Global Ship Lease charters?
The average remaining term of the Company’s charters is 2.3 years based on a TEU-weighted basis.
Where is Global Ship Lease incorporated?
Global Ship Lease is incorporated in the Marshall Islands.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GSL Hedge Fund Activity
We have seen 68 institutional investors add shares of $GSL stock to their portfolio, and 101 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- DONALD SMITH & CO., INC. added 1,281,941 shares (+69.0%) to their portfolio in Q4 2024, for an estimated $27,984,772
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 975,037 shares (-83.0%) from their portfolio in Q4 2024, for an estimated $21,285,057
- MORGAN STANLEY removed 545,652 shares (-36.2%) from their portfolio in Q3 2024, for an estimated $14,541,625
- MILLENNIUM MANAGEMENT LLC added 323,574 shares (+188.5%) to their portfolio in Q3 2024, for an estimated $8,623,247
- CITADEL ADVISORS LLC removed 308,326 shares (-52.4%) from their portfolio in Q3 2024, for an estimated $8,216,887
- ACADIAN ASSET MANAGEMENT LLC removed 256,318 shares (-15.1%) from their portfolio in Q4 2024, for an estimated $5,595,421
- MAN GROUP PLC removed 206,329 shares (-29.1%) from their portfolio in Q3 2024, for an estimated $5,498,667
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
ATHENS, Greece, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the “Company”), a containership charter owner, announced today that the Company’s Board of Directors has declared a dividend of $0.45 per Class A common share for the fourth quarter of 2024, to be paid on March 6, 2025 to shareholders of record as of February 24, 2025.
About Global Ship Lease
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. It was listed on the New York Stock Exchange in August 2008.
As of September 30, 2024, Global Ship Lease owned 68 containerships, ranging from 2,207 to 11,040 TEU, with an aggregate capacity of 376,723 TEU. 36 ships are wide-beam Post-Panamax.
As of September 30, 2024, the average remaining term of the Company’s charters, to the mid-point of redelivery, including options under the Company’s control and other than if a redelivery notice has been received, was 2.3 years on a TEU-weighted basis. Contracted revenue on the same basis was $1.78 billion. Contracted revenue was $2.15 billion, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 2.8 years.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements provide the Company’s current expectations or forecasts of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. These forward-looking statements are based on assumptions that may be incorrect, and the Company cannot assure you that the events or expectations included in these forward-looking statements will come to pass. Actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors, including the factors described in “Risk Factors” in the Company’s Annual Report on Form 20-F and the factors and risks the Company describes in subsequent reports filed from time to time with the U.S. Securities and Exchange Commission. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this press release or to reflect the occurrence of unanticipated events.
Investor and Media Contact:
IGB Group
Bryan Degnan
646-673-9701
or
Leon Berman
212-477-8438
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