But it is incorrect. Positive or negative number divided by zero is either +infinity or -infinity. For a positive dividend it would be +infinity only if the divisor got there from a positive number towards absolute 0, but at the time of doing the division we only have absolute 0 as the divisor.
The usual floating point behavior of having signed zero (+0 and -0) is not enough for this to be correct. You would also need a normal proper unsigned absolute 0 as well. Then you could give +inf for division with +0 and -inf for division with -0 and error or nan with division by the absolute (unsigned) 0. As far as I understand there is no unsigned 0 in IEEE 754, 0 is +0, so in reality it is always signed.