ZIM Integrated Shipping Services Ltd (ZIM)

[staynafloat]

Don't understand the cut dividend ? The dividend is $6.40 with a ex-dividend date of April 4th.

In accordance with the Company's dividend policy, ZIM's Board of Directors declared a cash dividend of approximately $769 million, or $6.40 per ordinary share. Together with prior dividend distributions made on account of 2022, dividend distributions for the year totaled approximately 44% of the year's net income. The dividend will be paid on April 3, 2023, to holders of ZIM ordinary shares as of March 24, 2023. Since the foregoing declared dividend amount per share constitutes more than 25% of the Company's ordinary share price on the declaration date (March 13, 2023), per the instructions of the NYSE, the ex-dividend date with respect to this dividend distribution will be April 4, 2023. Shareholders who wish to receive the dividend must hold their ZIM shares until the ex-dividend date.

https://investors.zim.com/news/news-details/2023/ZIM-Reports-Financial-Results-for-the-Fourth-Quarter-and-Full-Year-of-2022/default.aspx