ZIM Integrated Shipping Services Ltd. is experiencing a rise in its stock price today, likely driven by the anticipation of its upcoming dividend payments. On December 2, 2024, ZIM announced that it would distribute a regular cash dividend of $2.81 per ordinary share and a special cash dividend of $0.84 per ordinary share, with payments scheduled for December 9, 2024. This announcement has likely increased investor interest, as dividends can be an attractive incentive for shareholders, providing them with a direct return on their investment.
Additionally, ZIM has updated its shareholders on the potential for reduced Israeli withholding tax rates on these dividends, which could further enhance the net returns for eligible investors. This tax ruling, obtained from the Israeli Tax Authority, may make the dividend payments more appealing to certain shareholders, potentially contributing to the stock's upward movement.
ZIM's stock is currently trading at $20.37, reflecting a 4.19% increase from its previous close of $19.55.