One of the first things that might draw in investors who are considering an investment in ZIM Integrated Shipping (ZIM) is its sky-high dividend yield. The company paid its recent massive dividend of $17 last week to push its current yield north of 20%. This follows previous quarterly dividend payouts of $2.50 and $2 in December and August 2021, respectively.
ZIM Integrated Shipping is based in Israel and has been in business for more than 75 years but has only traded publicly for just over a year. The company priced its IPO in late January 2021 at $15, below an expected $16 to $19 range. The company offered 14.5 million shares and raised $217.5 million in its debut.
ZIM is a global, asset-light container liner shipping company, and it happens to be flushed with cash from a booming industry. This explains why the recent dividend yield will likely remain high over the next couple of years.
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