Global Ship Lease's Series B Preferred Shares Cross 9.5% Yield Mark

In trading on Friday, shares of Global Ship Lease, Inc.'s 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares (GSL.PRB) were yielding above the 9.5% mark based on its quarterly dividend (annualized to $2.1875), with shares changing hands as low as $23.00 on the day. This compares to an average yield of 6.70% in the "Shipping" preferred stock category, according to Preferred Stock Channel. As of last close, GSL.PRB was trading at a 7.08% discount to its liquidation preference amount, versus the average discount of 12.40% in the "Shipping" category.

The chart below shows the one year performance of GSL.PRB shares, versus GSL:

Performance Comparison Chart

Below is a dividend history chart for GSL.PRB, showing historical dividend payments on Global Ship Lease, Inc.'s 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares:

GSL.PRB+Dividend+History+Chart

In Friday trading, Global Ship Lease, Inc.'s 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares ( GSL.PRB) is currently off about 0.9% on the day, while the common shares ( GSL) are up about 4%.

More from Stocks

Oil Prices, Barrick Gold, Randgold, Comcast, Tiger Woods- 5 Things You Must Know

Oil Prices, Barrick Gold, Randgold, Comcast, Tiger Woods- 5 Things You Must Know

Barrick Gold and Randgold Resources in Advance Merger Talks: Reports

Barrick Gold and Randgold Resources in Advance Merger Talks: Reports

How Investors Can Profit by Focusing on This One Key Business Statistic

How Investors Can Profit by Focusing on This One Key Business Statistic

The Easy Money in Amazon Stock Has Been Made

The Easy Money in Amazon Stock Has Been Made

Is the Cannabis Crazy Equivalent to the Dot Com Bubble?

Is the Cannabis Crazy Equivalent to the Dot Com Bubble?