Notable News to Watch: Global Ship Lease (NYSE:GSL)
Global Ship Lease (NYSE:GSL) stock observed trading -41.16% off 52-week high price. On the other end, the stock has been noted 64.68% away from low price over the last 52-weeks. The stock disclosed a move of -11.16% away from 50 day moving average and 1.05% away from 200 day moving average. Moving closer, we can see that shares have been trading -3.28% off 20-day moving average. It has market cap of $64.78M.
Global Ship Lease (NYSE:GSL) revealed 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 July 1, 2019 to September 30, 2019 and will be paid on October 1, 2019 to all Series B Preferred Shareholders of record as of September 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 39 ships and has contracted to purchase a further two ships, 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 11.9 years as at June 30, 2019.
The average remaining term of the Company’s charters at June 30, 2019, to the mid-point of redelivery, including options under owner’s control, was 2.9 years on a TEU-weighted basis. Contracted revenue on the same basis was $823.0 million. Contracted revenue was $913.4 million, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 3.2 years.
The United Kingdom based company Global Ship Lease moved with change of 1.07% to $6.59 with the total traded volume of 2257 shares in recent session versus to an average volume of 17.9K. The stock was observed in the 5 days activity at -1.83%. The one month performance of stock was -9.10%. GSL’s shares are at -8.85% for the quarter and driving a -26.45% return over the course of the past year and is now at 32.86% since this point in 2018. Right now the stock beta is 0.99. The average volatility for the week and month was at 5.58% and 5.20% respectively. There are 9.83M shares outstanding and 3.28M shares are floated in market.
Roy Frigo an avid economist and an expert on global politics and economic pressures that can affect market conditions. He has a Masters Degree in Economics from Westminster University with previous roles including Investment Banking.
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