ZIM Integrated Shipping Services Ltd. provided an update on the withholding tax procedures for its regular and special cash dividends, both scheduled for payment on December 9, 2024. The company confirmed that a previously obtained tax ruling from the Israeli Tax Authority (ITA) will apply to these distributions.
As a result of this ruling, certain shareholders may be eligible for a reduced Israeli withholding tax rate on their share of the dividends, compared to the generally applicable rate. The dividends include a regular cash dividend of $2.81 per ordinary share and a special cash dividend of $0.84 per ordinary share, totaling approximately $440 million.
Shareholders seeking to benefit from the reduced withholding tax rate must provide all required documentation to the appointed agent, IBI Trust Management, by January 7, 2025. This update is important for investors to understand the net proceeds from their dividend payouts.
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