Group markedly increases its quarterly dividend payout
Cash-flush Grindrod Shipping (Grinship), which provides maritime services mainly in the dry-bulk sector, has markedly increased its quarterly dividend payout — a confident gesture that might placate investor concerns over choppier waters in the second half of the financial year.
Despite feeling ripples from the Ukraine/Russia conflict, Grinship on Thursday reported robust interim results with its strongest second-quarter performance in over a decade as dry-bulk markets remained buoyant. Revenue for the six months to end-June was up over 50% to $272m with net profit increasing almost fourfold to $83m...
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