Global Ship Lease Declares Quarterly Dividend per Common Share for Fourth Quarter of 2022

Rhea-AI Summary

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.

Positive

• Dividend of $0.375 per share for Q4 2022 demonstrates company strength and shareholder commitment.
• Robust contracted revenue of $2.23 billion indicates strong future cash flows.
• Fleet of 65 containerships provides diversified capacity and operational stability.

Negative

• None.

LONDON, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the “Company”) announced today that the Company’s Board of Directors has declared a dividend of $0.375 per Class A common share for the fourth quarter of 2022, to be paid on March 6, 2023 to shareholders of record as of February 22, 2023.

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 at December 29, 2022, Global Ship Lease owned 65 containerships, ranging from 1,118 to 11,040 TEU, with an aggregate capacity of 342,348 TEU. 32 ships are wide-beam Post-Panamax.

Adjusted to include all charters agreed, up to December 29, 2022, the average remaining term of the Company’s charters as at September 30, 2022, to the mid-point of redelivery, including options under the Company’s control and other than if a redelivery notice has been received, was 2.9 years on a TEU-weighted basis. Contracted revenue on the same basis was $2.23 billion. Contracted revenue was $2.65 billion, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 3.7 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:
The IGB Group
Bryan Degnan
646-673-9701
or
Leon Berman
212-477-8438

FAQ

What is the dividend amount declared by Global Ship Lease for Q4 2022?

Global Ship Lease declared a dividend of $0.375 per Class A common share for Q4 2022.

When will the dividend be paid to shareholders of Global Ship Lease?

The dividend will be paid on March 6, 2023, to shareholders of record as of February 22, 2023.

What is the current fleet size of Global Ship Lease?

As of December 29, 2022, Global Ship Lease owns 65 containerships.

What is the total capacity of the Global Ship Lease fleet?

The total capacity of the Global Ship Lease fleet is 342,348 TEU.

What is the contracted revenue reported by Global Ship Lease?

Global Ship Lease reported a contracted revenue of $2.23 billion.