Global Ship Lease Declares Quarterly Dividend on its 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares
September 09 2016 - 08:30AM
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
July 1, 2016 to September 30, 2016 and will be paid on October 3,
2016 to all Series B Preferred Shareholders of record as of
September 26, 2016.
About Global Ship Lease
Global Ship Lease is a containership charter owner. Incorporated
in the Marshall Islands, Global Ship Lease commenced operations in
December 2007 with a business of owning and chartering out
containerships under mainly long-term, fixed-rate charters to top
tier container liner companies.
Global Ship Lease owns 18 vessels with a total capacity of
82,312 TEU and an average age, weighted by TEU capacity, at July
31, 2016 of 11.6 years. All 18 vessels are currently fixed on time
charters, 15 of which are with CMA CGM. The average remaining term
of the charters, taking into account the two recently agreed
charter extensions, at July 31, 2016 is 4.3 years or 4.4 years on a
weighted basis.
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 Group
Bryan Degnan
646-673-9701
or
Leon Berman
212-477-8438
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