Global Ship Lease's Series B Preferred Shares Cross 8.5% Yield Mark

By Preferred Stock Channel Staff, Wednesday, June 23, 2:31 PM ET

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In trading on Wednesday, shares of Global Ship Lease, Inc.'s 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares (NYSE:GSL.PRB) were yielding above the 8.5% mark based on its quarterly dividend (annualized to $2.1875), with shares changing hands as low as $25.30 on the day. This compares to an average yield of 8.00% in the "Transportation" preferred stock category, according to Preferred Stock Channel. As of last close, GSL.PRB was trading at a 3.52% premium to its liquidation preference amount, versus the average premium of 3.50% in the "Transportation" 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:

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In Wednesday trading, Global Ship Lease, Inc.'s 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares (NYSE:GSL.PRB) is currently up about 0.4% on the day, while the common shares (NYSE:GSL) are down about 1%.

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Global Ship Lease's Series B Preferred Shares Cross 8.5% Yield Mark

Global Ship Lease's Series B Preferred Shares Cross 8.5% Yield Mark | www.PreferredStockChannel.com