ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Increases Dividend to $0.31 Per Share

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) declared a quarterly dividend on Thursday, November 20th. Stockholders of record on Monday, December 1st will be paid a dividend of 0.31 per share on Monday, December 8th. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend is Monday, December 1st. This is a 416.7% increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.06.

ZIM Integrated Shipping Services has a payout ratio of -12.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect ZIM Integrated Shipping Services to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 8.0%.

ZIM Integrated Shipping Services Stock Down 0.2%

Shares of NYSE ZIM traded down $0.03 during trading hours on Thursday, hitting $16.72. 7,655,273 shares of the stock were exchanged, compared to its average volume of 5,774,176. ZIM Integrated Shipping Services has a 12 month low of $11.03 and a 12 month high of $26.11. The firm has a fifty day moving average price of $14.39 and a 200-day moving average price of $15.48. The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 1.20. The company has a market cap of $2.01 billion, a PE ratio of 1.00 and a beta of 1.73.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Thursday, November 20th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.65). The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. ZIM Integrated Shipping Services had a return on equity of 50.61% and a net margin of 23.37%. On average, sell-side analysts expect that ZIM Integrated Shipping Services will post 16.75 EPS for the current year.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.