These preferred shares yield 9.13%, with 18.9X 2018 coverage and 20.9X coverage during the past three years. The preferred dividends qualify for the 15% to 20% preferential tax treatment - no K-1. They're also over 4% below their call value, giving them a much higher yield to call value.
We're returning to a very different theme for us - unlike most of our other articles, this is an article about a stock with no common dividends. But don't despair; Global Ship Lease (GSL) has a preferred series with a very attractive 9.13% dividend. Global Ship Lease is a containership lessor publicly traded since 15th August 2008 on the New York Stock Exchange. GSL is a Marshall Islands Corporation with administrative offices in London. It owns a fleet of high-quality, well-maintained containerships that are leased out under fixed-rate time charters.
Source: Seeking Alpha
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- My Top 3 Investing Mistakes
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