Global Ship Lease declares $0.546875 dividend on Series B Preferred Shares
Global Ship Lease, Inc. declared a cash dividend of $0.546875 per depositary share for its 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares. The dividend covers the period from April 1, 2026 to June 30, 2026 and is payable on July 1, 2026 to shareholders of record as of June 24, 2026. The company operates a fleet of 71 vessels with contracted revenue of $2.05 billion as of March 31, 2026.
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Global Ship Lease, Inc. has declared a cash dividend of $0.546875 per depositary share for its 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares. The dividend represents payment for the period from April 1, 2026 to June 30, 2026. This announcement impacts shareholders of record as of June 24, 2026, with the payment scheduled for July 1, 2026.
Dividend Details
The Board of Directors approved the dividend for the Series B Preferred Shares, which trade on the NYSE under the ticker GSLPRB. Each depositary share represents a 1/100th interest in a share of the Series B Preferred Shares.
| Detail | Information |
|---|---|
| Dividend per depositary share | $0.546875 |
| Payment period | April 1, 2026 to June 30, 2026 |
| Record date | June 24, 2026 |
| Payment date | July 1, 2026 |
Company Overview
Global Ship Lease is an independent owner of containerships with a diversified fleet of mid-sized and smaller vessels. Incorporated in the Marshall Islands, the company commenced operations in December 2007 and was listed on the New York Stock Exchange in August 2008. Its business model focuses on owning and chartering out containerships under fixed-rate charters to top-tier container liner companies.
As of March 31, 2026, the company's fleet consisted of 71 vessels with an average age weighted by TEU capacity of 18.2 years. Among these, 41 ships are wide-beam Post-Panamax vessels. The average remaining term of the charters, to the mid-point of redelivery, was 2.6 years on a TEU-weighted basis. Contracted revenue on this basis stood at $2.05 billion. Including options under charterers' control and with the latest redelivery date, contracted revenue was $2.58 billion, representing a weighted average remaining term of 3.3 years.
How will Global Ship Lease manage the expiration of charters given the average remaining term of 2.6 years?
What impact will the aging fleet, with an average age of 18.2 years, have on future operational costs and charter rates?
Are there plans to expand or modernize the fleet to maintain competitiveness in the containership market?
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