Bottom Fishing Again For A 9% Yield On Qualified Dividends

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.
"Historically, we've chosen to use our cash to de-lever and to grow the business rather than pay dividends. One of the terms of our refinancing in the fall of last year is that we are unable to pay dividends on common stock until January 2021 unless we raise equity capital." (Source: Q1 '18 earnings call)
But don't despair; Global Ship Lease (GSL) has a preferred series with a very attractive 9.13% dividend.
Profile: 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.
GSL was created through a $1 billion spin-off from CMA CGM, the third-largest liner operator in the world, effected by a merger in August 2008 between the CMA CGM-owned entity and Marathon Acquisition Corp. (Marathon), a listed special purpose acquisition corporation (SPAC). Marathon was established by Michael Gross, chairman and CEO of investment firms Solar Capital (SLRC) and Solar Senior Capital (SUNS) and a founder and former senior partner of Apollo Management L.P, a leading private equity firm. Mr. Gross is GSL's chairman of the board. (Source: GLS site)
(Source: GSL... Read more

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