Recently, Evergreen Marine Corporation, the world’s seventh-largest container shipping company and a publicly listed Taiwanese shipping giant, held its annual general meeting. During the meeting, shareholders overwhelmingly approved a proposal to distribute a total of over NT$215 billion (approximately RMB 48 billion) in cash dividends.
 

According to the proposal, Evergreen Marine will distribute a cash dividend of NT$10 per share to its shareholders. With the current market issuance of 2.151 billion shares, the total cash dividend will exceed NT$215 billion.
 

Shareholders Approve Significant Cash Dividend

Foreseeing the possibility of this generous dividend, the shareholders' meeting had a high attendance rate of 71.48%. Chairman Chang Yen-i stated that the earnings per share (EPS) after tax is NT$16.7, and distributing NT$10 per share is fair to shareholders.
 

Fair Return to Shareholders

At the shareholders' meeting, President Wu Guanghui pointed out that last year was exceptional for the global shipping industry, with favorable conditions leading to high profitability.
 

The financial report indicates that Evergreen Marine’s net profit after tax for 2023 was approximately NT$353.37 billion, a decrease of 89.4% year-on-year. The annual EPS was NT$16.7, and the approved cash dividend was NT$10, with a payout ratio of 60.6%. Despite the overall decline, Evergreen Marine was the only profitable company among the top three container shipping companies in Q4 2023, with a net profit after tax of NT$32.9 billion and an EPS of NT$1.56.
 

Dividend Distribution Dates Announced

The dividend distribution date is set for June 27, and the ordinary share cash dividends will be distributed on July 25.
 

Optimistic Outlook Despite Challenges

President Wu Guanghui highlighted that the Red Sea crisis has led to reduced ship turnaround rates, directly impacting container turnover rates. Currently, there is a shortage of containers in the Far East export region, causing panic among European and American importers, who are stocking up early. The peak season has arrived earlier than expected, and with customers providing longer forecasts, the outlook for Q3 remains optimistic, though the extent of the peak is yet to be seen.
 

In Q1 2024, Evergreen Marine reported a net profit after tax of NT$173.8 billion (approximately RMB 38.8 billion), marking a 244% year-on-year increase and a 427% quarterly increase. The EPS after tax was NT$8.14, ranking sixth among listed companies.
 

Expanding Fleet Capacity

As of May 27, 2025, Evergreen Marine operates a fleet of 217 ships with a total capacity of 1.65 million TEUs. The company has 62 new ships on order, with a total capacity of approximately 760,000 TEUs, scheduled for delivery over the next few years.
 

The delivery schedule includes:

· 23 new ships in 2024, adding approximately 210,000 TEUs

· 20 new ships in 2025, adding approximately 170,000 TEUs

· 8 new ships in 2026, adding approximately 140,000 TEUs

· 14 new ships in 2027, adding approximately 230,000 TEUs

· 2 new ships in 2028, adding approximately 30,000 TEUs
 

Evergreen Marine Corporation continues to show resilience and growth potential, providing substantial returns to shareholders and expanding its global fleet capacity.

by Xinde Marine News Chen Yang

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