ZIM Integrated Shipping Services will leave its dividend decision to its board after third-quarter results, CFO Sami Jubran said on the company's second-quarter 2026 earnings release, tying any payout to how the back half of 2026 plays out. The per-share dividend rose to $0.88 from $0.31 the prior quarter, still far below the $3.17 peak paid at the end of 2024, while the payout ratio turned negative at negative 123.37% against a 12.46% yield, nearly triple ZIM's own historical average of 4.48%. Second-quarter net income was $64 million versus $24 million a year earlier, a gain management reported as 170%, adjusted net income reached $77 million, up 226% year over year, and adjusted EBITDA rose 4% to $491 million, though the first half of 2026 still produced a net loss of $22 million against net income of $320 million a year earlier on revenue that fell to $3.18 billion from $3.64 billion. Management guided full-year 2026 adjusted EBITDA to $2.0 billion to $2.4 billion and adjusted EBIT to $700 million to $1.1 billion, with free cash flow of $386 million in the quarter and net leverage at 1.6x, down from 1.7x at the end of the first quarter. ZIM's pending acquisition by Hapag-Lloyd, agreed in February 2026 at $35.00 per share cash and targeted to close in the fourth quarter, means future dividends answer to the merger agreement as well as the board, and Street analysts tracked by TIKR put the average target at $28, a target-to-price ratio of 94% against the $30 close on September 18, 2026, split one buy, two holds and one underperform.
Hapag Lloyd AG
ZIM Integrated Shipping Services Ltd
