Global Ship Lease Expects To Initiate A Supplemental Dividend Of $0.075 Per Share, An Increase Of 20%, For As Long As Conditions Are Supportive

Quarterly supplemental dividends of $0.075 per share represent a 20% increase in dividend payments to common shareholders

 

Increased dividend payments reflect material outperformance of containership charter markets

ATHENS, Greece, May 28, 2024 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the "Company"), a containership charter owner, today announced the introduction of a quarterly supplemental dividend to common shareholders.

Recent containership charter market strength is enabling Global Ship Lease to secure higher-than-anticipated cashflows from time charters with longer-than-anticipated durations. As a result, in addition to the sustainable dividend of $0.375 per Class A common share per quarter, commencing with the dividend payable after the release of the Company's earnings for the second quarter of 2024, Global Ship Lease expects to initiate a supplemental dividend of $0.075 per Class A common share per quarter, an increase of 20%, for as long as conditions are supportive.