Global Ship Lease Declares Quarterly Dividend on its 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares
June 10 2019 - 3:15PM
Global Ship Lease, Inc. (NYSE:GSL) (the “Company”) announced today
that the Company’s Board of Directors has declared a cash dividend
of $0.546875 per depositary share, each representing a 1/100th
interest in a share of its 8.75% Series B Cumulative Redeemable
Perpetual Preferred Shares (the “Series B Preferred Shares”)
(NYSE:GSLPrB). The dividend represents payment for the period from
April 1, 2019 to June 30, 2019 and will be paid on July 1, 2019 to
all Series B Preferred Shareholders of record as of June 24, 2019.
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. On November 15, 2018, it completed a
strategic combination with Poseidon Containers.
Global Ship Lease owns 41 vessels ranging from 2,207 to
11,040 TEU, of which nine are fuel efficient new-design wide beam,
with a total capacity of 224,162 TEU and an average age, weighted
by TEU capacity, of 11.7 years as at March 31, 2019, including
subsequent announcements.
The average remaining term of the charters at March 31,
2019, including subsequent announcements and to the mid-point of
redelivery, including options under owner’s control, was 3.1
years on a TEU-weighted basis. Contracted revenue on the same basis
is $886.2 million. Contracted revenue is $975.9 million,
including options under charterers’ control and with latest
redelivery date, representing a weighted average remaining term of
3.4 years.
Safe Harbor Statement
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 GroupBryan
Degnan646-673-9701orLeon Berman212-477-8438
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