- It has been many years since Global Ship Lease has paid a dividend on their common shares.
- Recently management spoke of reinstating their common dividends following refinancing their 2022 debt to help them raise equity for acquisitions.
- Looking at their fundamentals, shareholders should keep their expectations modest in the medium to long-term since their free cash is lumpy and they carry high leverage.
- At least their liquidity appears strong, which mitigates a degree of the risks from their high leverage.
- Given this situation, I believe that a neutral rating is appropriate.
For further details see:
Global Ship Lease: Dividends Coming Back But With An Equity Raising