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Grindrod Shipping declares first quarterly dividend on commodities boom

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Adjusted ebitda leaps more than eightfold in the three months to end-September, prompting a payout of $0.72 a share

Grindrod Shipping, which was hived off from logistics group Grindrod and listed on Nasdaq and the JSE in 2018, has declared its first quarterly dividend as earnings jumped more than eightfold in the three months to end-September.

Its core dry-bulk business, which is involved in shipping commodities such as iron ore and coal, was a standout performer in the quarter, echoing the recent boom in commodity markets. That was driven by the reopening of world economy after the worst of the coronavirus pandemic and subsequent global supply chain bottlenecks. ..

 

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