Global Ship Lease reported robust financial results for the full year 2024, with operating revenue reaching $711.1 million, an increase of 5.4% over 2023. Net income available to common shareholders for the full year was $344.1 million, or $9.74 per share, marking a 16.6% increase from the previous year. Adjusted EBITDA for 2024 also grew by 7.1% to $494.7 million, demonstrating strong operational performance.
The company's Board of Directors approved a significant increase in the annualized dividend per Class A common share to $2.10, representing a 16.7% increase from the previous rate. This new quarterly dividend of $0.525 per share is expected to commence with the first quarter 2025 dividend, payable in June 2025. This dividend increase reflects sustained market demand for GSL's fleet and successful forward charter fixtures.
Global Ship Lease continued its fleet renewal strategy by purchasing four high-reefer, ECO-9,000 TEU containerships for $274 million, with three delivered in December 2024 and the fourth in January 2025. Concurrently, the company agreed to sell three older vessels—Tasman, Akiteta, and Keta—for an aggregate price of $54.5 million, significantly above their combined book value of $24.9 million. These strategic transactions enhance the fleet's efficiency and asset quality.
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