RE:RE:RE:RE:RE:How is this not $200+ / share? Since August 24, 2021, ZIM has paid four dividends, $2.00 (August 2021), $2.50 (December 2021), $17.00 (March 2022) and $2.85 (May 2022) for a total of $24.35. No guaranteed that ZIM will pay a similar dividend for the next twelve months, but ZIM stated policy is to distribute a dividend to shareholders 30% to 50% of its annual net income on an annual basis.
Trailing Twelve Months net income is $5,747,161,000 (yahoo finance). If ZIM pays an annual dividend of 30% of net income, that would mean a payment of $1,724,400,000. The number of shares is 119,743,188 shares. $1,724,400,000 / 119,743,188 = $14.65 per share. Share price is $43.00, therefore the dividend yield could be 34% ($14.65 / $43.00). 2022 Guidance issued by ZIM would seem to suggest the company will produce enough net income to pay a substantial dividend. So far this year, ZIM has paid in Q1 - 2022 one $2.85 dividend payment. There is a good chance that ZIM will pay for Fiscal Year 2022, at least $10 per share; the dividend yield would be 23%. Eight dollars per share would result in a ±18% dividend yield. For Canadians, the dividend will likely be subject to a Non-Resident Tax.
I am still undecided, the valuation is cheap, the dividend is compelling, but I need to better understand the business cycle before making a decision.