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

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) declared a quarterly dividend on Wednesday, August 20th, RTT News reports. Stockholders of record on Tuesday, September 2nd will be given a dividend of 0.06 per share on Tuesday, September 9th. This represents a c) annualized dividend and a dividend yield of 1.7%.

ZIM Integrated Shipping Services has a payout ratio of -663.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 1.8%

Shares of ZIM traded down $0.2650 during trading hours on Monday, hitting $14.1050. The company had a trading volume of 2,997,025 shares, compared to its average volume of 6,255,367. The firm has a fifty day moving average price of $16.14 and a 200-day moving average price of $16.65. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.11 and a current ratio of 1.20. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 0.85, a P/E/G ratio of 0.19 and a beta of 1.75. ZIM Integrated Shipping Services has a 52-week low of $11.03 and a 52-week 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($1.31). The company had revenue of $1.64 billion during the quarter, compared to analysts' expectations 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 research analysts forecast that ZIM Integrated Shipping Services will post 16.75 EPS for the current fiscal year.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently made changes to their positions in the company. Lazard Asset Management LLC grew its stake in shares of ZIM Integrated Shipping Services by 4.9% during the 4th quarter. Lazard Asset Management LLC now owns 15,443 shares of the company's stock valued at $331,000 after purchasing an additional 722 shares during the period. HUB Investment Partners LLC grew its stake in shares of ZIM Integrated Shipping Services by 6.4% during the 2nd quarter. HUB Investment Partners LLC now owns 11,920 shares of the company's stock valued at $192,000 after acquiring an additional 722 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of ZIM Integrated Shipping Services by 6.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,786 shares of the company's stock valued at $222,000 after acquiring an additional 776 shares during the period. Aigen Investment Management LP grew its stake in shares of ZIM Integrated Shipping Services by 5.4% during the 1st quarter. Aigen Investment Management LP now owns 16,842 shares of the company's stock valued at $246,000 after acquiring an additional 867 shares during the period. Finally, Regatta Capital Group LLC grew its stake in shares of ZIM Integrated Shipping Services by 7.6% during the 1st quarter. Regatta Capital Group LLC now owns 14,699 shares of the company's stock valued at $214,000 after acquiring an additional 1,040 shares during the period. 21.42% of the stock is currently owned by institutional investors.

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.