Video Screenshot

While most video players offer basic screen capture functionality, a specialized utility may be a better choice if you need to take a large number of snapshots or create animated GIFs.
Video Screenshot is a nifty application that fits the bill, as it is capable of grabbing individual stills or taking multiple snapshots in quick succession, as well as export content to GIF files.

Minimalistic video player that supports a decent number of file formats

Even though it is primarily designed to help you take snapshots, this program can also be used as a general-purpose media player. It supports most common video formats, such as MP4, AVI, MOV, MKV and MPG.
The application provides you with a basic set of playback controls, and convenient hotkeys are available. Additionally, it is possible to insert captions from local subtitle files.

Capture individual or continuous snapshots

Naturally, Video Screenshot only becomes truly useful in the hands of those who frequently need to capture still images from their videos, as it offers plenty of advanced features that can help you out in this scenario.
The application is capable of capturing both single and continuous shots, and images can be saved to JPG, PNG or BMP.  However, you cannot perform a simple screen capture with a single key press, as the Options window is brought up every time.

Create animated GIFs

Video Screenshot also enables you to create GIF animations by merging multiple pictures, and you can define the delay between each shot. Sadly, though, the minimum snapshot interval is one second, which is not low enough for creating fluent animations.
All in all, Video Screenshot is a useful software solution that is specially designed to help you perform video screen captures with as little effort as possible. It can take individual or continuous snapshots, as well as create GIF animations, but it still needs to be improved in several respects.