GSL Dividend Type Payments

Although GSL has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Global Ship Lease Inc New Class A Common Shares to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 4:16 PM ET):

Global Ship Lease Inc New Class A Common Shares (GSL)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
35.88	35.99	35.86	+0.20	767K	-	0.7B

GSL Dividend-Like Income Using Covered Calls

With GSL at 35.86, here's a table showing how big the annual "dividend" (i.e. total annual call premium received) would need to be to attain 3%, 5%, and 10% annual yields. Also shown is the equivalent number of cents/day necessary to achieve each yield:

Annual Yield	Annual Premium	Cents/Day
3%	1.08	0.3
5%	1.79	0.5
10%	3.59	1.0

So now we need to find out of the money covered calls that pay at least the prescribed cents/day amount of time premium. That will generate income and, because they are out of the money, leave room for some upside potential on the stock. Here are some examples:

3% Yield On GSL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	36.00	0.70	18	3.9	0.01 (0.0%)
Jan 16	36.00	1.20	46	2.6	0.01 (0.0%)

5% Yield On GSL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	36.00	0.70	18	3.9	0.01 (0.0%)
Jan 16	36.00	1.20	46	2.6	0.01 (0.0%)

10% Yield On GSL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	36.00	0.70	18	3.9	0.01 (0.0%)
Jan 16	36.00	1.20	46	2.6	0.01 (0.0%)

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