Grindrod Shipping climbs on strong Q2 results, dividend

Grindrod Shipping Holdings

18/08/2022 14:33

** Shares of Grindrod Shipping Holdings Ltd  GRIN.O  up 9.2%
at $20.90 in early trading, their highest level in more than two
months
    ** Singapore-based shipping services co reports Q2 adj EPS
of $2.81, above Refinitiv estimates of $1.92
    ** Adj rev of $161.58 mln also higher than Street
expectations of $130.20 mln, aided by improved market conditions
in the drybulk business  urn:newsml:reuters.com:*:nGNX6LgGTX
    ** Co also announces qtrly dividend of $0.84/shr
    ** GRIN says it remains prudent in risk management given the
potential uncertainty arising from elevated inflation levels and
rising interest rates across the globe
    ** Co beats adj EPS est for fourth straight qtr, per
Refinitiv data
    ** As of last close, stock up 6.3% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com;))