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%.

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