5 Best Shipping Stocks That Pay Dividends

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1. ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Number of Hedge Fund Holders: 32

Dividend Yield as of June 10, 2022: 19.5%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) is an Israeli container shipping company. It operates more than a hundred different vessels, for transporting cars and other goods.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) raked in $3.7 billion in revenue and $14.19 in GAAP during its first fiscal quarter, in a record set of results that also beat analyst estimates for both the metrics. The company announced a massive $10.31 dividend per share for shareholders in March 2022.

Jefferies raised its price target on the stock to $120 from $100 in March 2022, stating that strong dividends and earnings influenced the decision. ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) has the highest dividend yield of 19.5% on our list, with 32 out of the 912 hedge funds analyzed by Insider Monkey for this year’s March quarter having held a stake in the company.

Jim Simons’s Renaissance Technologies is ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s largest investor. It holds a $295 million stake that comes through 4 million shares.

Disclosure: None. You can also take a look at 10 Best Recession Stocks To Buy and 10 Best ETFs to Invest In for Retirement.

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