ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Announces Quarterly Dividend of $0.06

Key Points

• ZIM Integrated Shipping Services Ltd. has announced a quarterly dividend of $0.06 per share, set to be paid on September 9th to stockholders of record as of September 2nd, resulting in an annualized dividend yield of 1.6%.
• The company is facing a significant dividend payout ratio of -663.9%, indicating it relies on its balance sheet rather than earnings to cover its dividend payments, with analysts predicting a future payout ratio of 424.1%.
• ZIM reported earnings of $0.19 per share, significantly missing the consensus estimate of $0.92, while its net margin stands at 26.52% and it has a high return on equity of 63.46%.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) announced a quarterly dividend on Wednesday, August 20th, RTT News reports. Shareholders of record on Tuesday, September 2nd will be given a dividend of 0.06 per share on Tuesday, September 9th. This represents a c) dividend on an annualized basis and a yield of 1.7%.

ZIM Integrated Shipping Services has a payout ratio of -663.9% 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 may not be able to cover its $12.68 annual dividend with an expected future payout ratio of 424.1%.

ZIM Integrated Shipping Services Stock Down 2.5%

NYSE:ZIM traded down $0.3650 during trading hours on Friday, reaching $14.3350. The company had a trading volume of 7,396,345 shares, compared to its average volume of 5,856,090. The company has a quick ratio of 1.10, a current ratio of 1.20 and a debt-to-equity ratio of 1.20. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 0.86, a P/E/G ratio of 0.20 and a beta of 1.75. The business's 50-day simple moving average is $16.14 and its two-hundred day simple moving average is $16.67. ZIM Integrated Shipping Services has a twelve month low of $11.03 and a twelve month high of $30.15.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $1.50 by ($1.31). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.84 billion. ZIM Integrated Shipping Services had a return on equity of 50.61% and a net margin of 23.37%. On average, equities analysts expect that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. bought a new position in shares of ZIM Integrated Shipping Services during the second quarter valued at about $453,000. Marex Group plc bought a new stake in ZIM Integrated Shipping Services in the second quarter worth about $415,000. Advisory Services Network LLC raised its position in ZIM Integrated Shipping Services by 22.0% in the second quarter. Advisory Services Network LLC now owns 39,742 shares of the company's stock worth $630,000 after acquiring an additional 7,169 shares during the period. State of Wyoming raised its position in ZIM Integrated Shipping Services by 25.6% in the second quarter. State of Wyoming now owns 32,237 shares of the company's stock worth $519,000 after acquiring an additional 6,567 shares during the period. Finally, Headlands Technologies LLC bought a new stake in ZIM Integrated Shipping Services in the second quarter worth about $97,000. 21.42% of the stock is owned by institutional investors.

ZIM Integrated Shipping Services Company Profile

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.