Global Ship Lease Declares Quarterly Dividend on its 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares
December 06 2023 - 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
October 1, 2023 to December 31, 2023 and will be paid on January 2,
2024 to all Series B Preferred Shareholders of record as of
December 21, 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 of September 30, 2023, Global Ship Lease owned 68
containerships ranging from 2,207 to 11,040 TEU, with an aggregate
capacity of 375,406 TEU. 36 ships are wide-beam Post-Panamax.
As of September 30, 2023, 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 2.1 years on a TEU-weighted basis.
Contracted revenue on the same basis was $1.81 billion. Contracted
revenue was $2.23 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: The IGB GroupBryan
Degnan646-673-9701or Leon Berman 212-477-8438
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