Evergreen Marine Corp. announced a NT$32.5 ($1.01) per share cash dividend after its 2024 net income surged 295% to NT$139.45 billion ($4.34 billion), marking the company’s second-highest earnings per share on record at NT$64.87.
The proposed dividend represents a payout ratio exceeding 50% and yields approximately 14%, an unusually high return among Taiwanese companies with market capitalizations over NT$100 billion. The company is expected to distribute more than NT$70.3 billion in earnings, with the Evergreen family and its affiliated businesses standing to benefit most.
Evergreen’s strong performance has continued into 2025, with consolidated revenue for the first two months reaching NT$76.48 billion, up 30.69% year-on-year. Analysts attribute this growth to renewed Red Sea disruptions, as Houthi militants have resumed attacks on Israeli vessels, triggering another wave of freight rate increases.
The company may gain additional competitive advantage on North American routes as U.S. President Trump promotes his “Revitalize American Shipbuilding” initiative, which would impose substantial fees on vessels with 25% or more Chinese manufacturing content. Evergreen’s ships on U.S. West Coast routes are reportedly not manufactured in China.
In early 2025, Evergreen invested NT$100 billion to order 11 LNG dual-fuel container ships, demonstrating its commitment to diversified energy-efficient fleet development amid global decarbonization efforts.
