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 Wed 4:16 PM ET):

Global Ship Lease Inc New Class A Common Shares (GSL)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
21.24	21.90	21.35	+0.04	307K	-	0.4B

GSL Dividend-Like Income Using Covered Calls

With GSL at 21.35, 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%	0.64	0.2
5%	1.07	0.3
10%	2.14	0.6

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
Jan 17	22.50	0.15	31	0.5	0.60 (2.8%)
Feb 21	22.50	0.60	66	0.9	0.60 (2.8%)

5% Yield On GSL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 17	22.50	0.15	31	0.5	0.60 (2.8%)
Feb 21	22.50	0.60	66	0.9	0.60 (2.8%)

10% Yield On GSL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Feb 21	22.50	0.60	66	0.9	0.60 (2.8%)

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