Reports Q3 revenue $2.77B, consensus $2.41B. Eli Glickman, ZIM President & CEO, stated, “ZIM delivered strong Q3 results, as we again achieved record carried volumes contributing to our outstanding financial performance. We are pleased to share our success with our shareholders and declare a special dividend of ~$100M on top of the regular 30% of quarterly net income dividend payout of ~$340M, for a total dividend of ~$440M, or $3.65 per share. Our growing earnings power is reflective of a strong rate environment, but also a testament to our diligent execution, upscaling our capacity and enhancing our cost structure. We’ve continued to see incremental benefits from our strategic investment in our operated capacity as new larger, more modern, cost-effective vessels join our fleet.”
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
