Evergreen Marine posts strong 2024 financial results

TAIPEI (TVBS News) — Evergreen Marine Corp. (長榮海運), one of Taiwan's shipping giants, unveiled stellar financial performance for 2024 on Thursday (March 13), showcasing remarkable growth despite global maritime challenges. The company reported a 67.53% surge in consolidated revenue to NT$463.57 billion, while net profit attributable to the parent company soared by an impressive 294.64% to NT$139.45 billion.

These robust figures represent the third-highest financial results in the company's storied history, underscoring Evergreen's resilience in navigating volatile international shipping markets. The board of directors, meeting earlier on Thursday, approved both the 2024 financial report and an exceptionally generous dividend policy that will reward shareholders handsomely for their investment.

Investors have particular reason to celebrate as Evergreen announced plans to distribute a substantial cash dividend of NT$32.5 per share. This translates to a total dividend payout of NT$70.36 billion, reflecting the company's strong cash position and commitment to shareholder returns. With earnings per share (EPS) reaching NT$64.87, the dividend represents a payout ratio of approximately 50.46%.

The dividend yield — a key metric watched closely by income-focused investors — stands at an industry-leading 14.09% based on the previous day's closing stock price of NT$230.5. This rate positions Evergreen Marine as offering the highest dividend yield among major shipping companies, potentially making it an attractive option for investors seeking income in the current economic climate.

To maintain its competitive edge and operational efficiency in an ever-changing global shipping landscape, Evergreen Marine has implemented strategic adjustments to its routes and fleet configurations. These proactive measures aim to address the persistent uncertainties in the international trade environment that continue to affect maritime commerce worldwide.

The company has emphasized its commitment to fleet optimization and renewal as cornerstones of its long-term strategy. These initiatives are designed to ensure operational stability and build resilience against market fluctuations. Looking toward future challenges, Evergreen Marine plans to maintain flexibility in its operational strategies while strengthening its collaborative relationships with international maritime alliances, positioning itself for sustained success in the competitive global shipping industry.