Latest news with #ZIM
Yahoo
6 days ago
- Business
- Yahoo
Why ZIM Integrated Shipping Services Ltd. (ZIM) Went Down On Tuesday
We recently published a list of In this article, we are going to take a look at where ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) stands against other worst-performing stocks. ZIM Integrated dropped its share prices by 2.88 percent on Tuesday to finish at $17.53 apiece as investors sold off positions while digesting the company's cautious business outlook for the rest of the year. 'As we look toward the remainder of the year, the operating environment is highly uncertain, driven by a range of factors impacting global trade and economic expectations. For ZIM, our focus is on controlling what we can and responding to market shifts quickly with decisive actions,' said ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) President and CEO Eli Glickman. A fleet of vessels docking at a busy harbor, signaling the company's presence in global marine shipping. 'We continuously assess how to best allocate capacity and have taken steps to modify our network to match the changes in cargo flow from China and other Southeast Asian markets into the United States, including within the last week, which underscores the agile nature of our commercial strategy.' In recent news, ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) said net income increased by 222 percent to $296 million from $92 million in the same period last year. Revenues grew by 28 percent to $2.01 billion from $1.56 billion year-on-year. Overall, ZIM ranks 9th on our list of worst-performing stocks. While we acknowledge the potential of ZIM, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ZIM and that has 10,000x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
ZIM Updates on Withholding Tax Procedures on June 2025 Cash Dividend
HAIFA, Israel, May 29, 2025 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM" or the "Company"), a global container liner shipping company, hereby updates that in connection with the dividend distribution expected to take place June 9, 2025, as previously announced by the Company on May 19, 2025 (the "Dividend"), it had obtained an extension of the previously obtained tax ruling from the Israeli Tax Authority ("ITA") on tax withholding procedures relating to the payment of the Dividend to the Company's shareholders (the "Ruling"). As a result of the Ruling, certain shareholders of the Company ("Shareholders") may be eligible to a reduced Israeli withholding tax rate with respect to their share of this Dividend, in comparison to the generally applicable withholding tax rate (the "Reduced Withholding Tax Rate"), under certain terms and conditions as set forth below. The description provided below is not intended to constitute a complete analysis of withholding tax rate procedures relating to the distribution of the Dividend, nor does it address the actual tax liability of any of the Shareholders, but merely relates to the Israeli withholding tax procedures relating to the distribution of the Dividend. Other than the Dividend previously declared by the Company to be paid on June 9, 2025, there is no guarantee the Company will declare additional dividends in the future. Shareholders are advised to consult their own tax and financial advisors concerning the tax consequences of each particular situation, as well as any tax consequences that may arise under the laws of any state, local, foreign or other taxing jurisdiction. For the avoidance of doubt, the Agent IBI Trust Management (whose information is provided below) has been retained by ZIM for the purpose of coordinating certain procedures relating to the Ruling, and it is NOT intended that the Agent will provide any tax advice to any of the Shareholders, who are encouraged to consult their own tax and financial advisors. Forms required to be submitted to the Agent in connection with the Ruling as described below are available in the following link - here (the full link appears below, under the Agent's contact information), and can also be found on the Company's website here. Background On May 19, 2025, ZIM announced a dividend payment of $0.74 per ordinary share (approximately $89 million), to be paid to holders of ordinary shares as of June 2, 2025. Payment of the Dividend is expected to be made on June 9, 2025 (the "Payment Date"). General Withholding Tax Treatment under Israeli Law As set out in the Company's Annual Report on Form 20-F filed with the Commission on March 12, 2025, with respect to dividends sourced from regular earnings, under the Israeli Tax Ordinance and regulations issued under the Israeli Tax Ordinance (collectively, "ITO"), the current Israeli rate of withholding tax on dividends paid by an Israeli company is 30% for distributions to a "substantial shareholder" (in general, being someone who holds, directly or indirectly, by himself or together with others, at least 10% of one or more of the means of control in the company) and 25% with respect to distributions to all other holders of Ordinary Shares ("Withholding Tax"). Notwithstanding the foregoing, as a result of the Ruling and subject to its terms and conditions, certain Shareholders, both Israeli and non-Israeli, may be eligible to a reduced Israeli withholding tax rate on their share of this dividend distribution, in comparison to the generally applicable withholding tax rate described above, (the "Reduced Withholding Tax Rate"), under certain terms and conditions as set forth below. Summary of the Main Terms of the Ruling The following is a summary of some of the key terms of the Ruling. It is emphasized that the description below does not purport to exhaust all the terms and conditions included in the Ruling and is not a complete translation of the Ruling. In order to enjoy the Reduced Withholding Tax Rate, Shareholders must comply with all the terms of the Ruling, a copy of which in the Hebrew language as well as an unofficial non-binding English translation thereof can be obtained free of charge by email by approaching the Agent (as defined below) at the contact details provided below. On the Payment Date the Company will withhold 25% of the Dividend amount and will remit the tax amount to the Agent, to be handled by the Agent in accordance with the terms and conditions of the Ruling. The remaining 75% of the Dividend amount will be remitted by the Company to its transfer agent, Equiniti Trust Company, LLC, which will transfer the said amount to the Shareholders (including through brokers who hold in brokerage accounts ZIM shares on behalf of Shareholders). A Shareholder who is a resident of a country with which Israel has a tax treaty ("Treaty State") (based on a declaration to be provided by such Shareholder) and is the beneficial owner of the Dividend, may apply to the Agent requesting a Reduced Tax Withholding Rate. Such application must be received by the Agent between the Payment Date and July 3, 2025 (the "Change of Rate Period"). The eligibility for a reduced tax rate will be evaluated by the Agent in accordance with Israeli tax laws and any applicable treaties, and therefore there is no guarantee that the applicant shareholder will be eligible for a tax refund. A Shareholder who declared that he or she is a resident of a Treaty State and is the beneficial owner of the Dividend may apply to the Agent during the Change of Rate Period only (subject to complying with all the documentation requirements detailed below) requesting the receipt of the monetary difference between the tax amount remitted to the Agent (at a rate of 25%) and the amount represented by the withholding tax rate set forth in the tax treaty between Israel and such Treaty State or by the limited withholding tax rate applicable to such dividend payment under the ITO, to the extent applicable. A Shareholder who did not declare that it, he or she is a resident of a Treaty State and is the beneficial owner of the Dividend, may apply to the Agent during the Change of Rate Period only (subject to complying with all the documentation requirements detailed below) requesting the receipt of the monetary difference between the tax amount remitted to the Agent (at a rate of 25%) and the amount represented by the withholding tax rate applicable to such dividend payment under the ITO or by the limited withholding tax rate applicable to such dividend payment under the ITO, to the extent applicable. Any Shareholder who claims to be entitled to a Reduced Tax Withholding Rate in accordance with the foregoing, will be required to provide the Agent with all relevant documentation as detailed in the Ruling and the forms available in the following link, on no later than July 3, 2025 (the end of Change of Rate Period), including but not limited to, bank account details to which the dividend payment should be transferred, number of ZIM shares owned by the Shareholder in such account, identification document, and confirmation of residence for the tax year 2025 issued by the taxing authority of the state of tax residence. In addition to the foregoing, the Shareholder will provide a written declaration in the form annexed to this announcement which will include declarations as to the following: (i) the Shareholder's tax residence for the tax year 2025, (ii) the Shareholder's beneficial ownership of the dividend, (iii) the investment in ZIM shares has not been made through a permanent establishment in Israel, (iv) the holding of ZIM shares is made for the Shareholder's own account and not for the account of others, and (v) the payment will not be made to a permanent establishment of the Shareholder outside of the Shareholder's tax residence. A non-Israeli corporate Shareholder (excluding a Shareholder covered by section 9 below) that requests a Reduced Tax Withholding Rate, will also need to provide the Agent with its updated shareholders register as of June 2, 2025, and a statement confirming that more than 75% of its shareholders, directly or indirectly, are individuals of its state of residence for the tax year 2025. A publicly traded non-Israeli corporate Shareholder whose shares are traded on a stock market outside of Israel and is a resident of a Treaty State, or a direct or indirect subsidiary of such Shareholder, will also provide the Agent with a declaration that it is a resident of such Treaty State or another non-Israeli state for the tax year 2025, as applicable. An Israeli corporate Shareholder which is entitled to a Reduced Tax Withholding Rate (including an exemption from withholding tax at source), will be able to apply to the Agent no later than July 3, 2025, (the end of the Change of Rate Period) and enclose an applicable valid ITA issued certificate setting forth a Reduced Tax Withholding Rate or an exemption from withholding tax. In addition, such Shareholder will enclose its certificate of incorporation and all other documents required as set forth above, mutatis mutandis as requested by the Agent. The Agent is entitled to request from the Shareholders applying for a Reduced Tax Withholding Rate additional documents in its discretion insofar as they are required to establish the tax residence of the Shareholder or its entitlement to exemption and/or to a Reduced Tax Withholding Rate. Notwithstanding the foregoing, no refund of excess tax withholding shall be affected by the Agent with respect to any Shareholder holding more than 5% of the issued share capital of the Company, or whose entitlement to dividend from the Company pursuant to the Dividend exceeds $500,000, other than in accordance with a specific approval issued by the ITA. The transfer of the amounts withheld, excluding the amounts returned to the Shareholders, as aforementioned, shall be conducted by the Agent. Subject to receipt by the Agent of your required documentation, the Agent will return the amounts withheld to the Shareholders as detailed above to the account at which the dividend payment was made within 30 days from the date the amounts withheld are paid to the ITA. The Ruling is aimed to address solely the issue of tax withholding procedures and should not be construed as setting the actual tax liability of any Shareholder with respect to the Dividend or otherwise. Appointment of Israeli Tax Withholding Agent In order to facilitate the implementation of the procedures set forth in the Ruling for the benefit of its Shareholders, the Company appointed IBI Trust Management to serve as a processing agent for the benefit of the Shareholders in connection with the distribution of the Dividend (the "Agent"). Contact information of the Agent is provided at the bottom of this announcement. We encourage you to contact the Agent if you need any clarifications in filling-in the forms required under the Ruling to obtain a Reduced Withholding Tax Rate, or if you have any questions concerning the process. Please note that the Agent will not provide any tax advice to any Shareholder, who should consult their own tax and financial advisors. In order to be eligible to benefit from a Reduced Withholding Tax Rate, Shareholders must provide the Agent with all documentation required under the Ruling not later than July 3, 2025. The relevant forms are included in the following link. If a Shareholder fails to provide the Agent with all the documentation required by July 3, 2025, the Agent will not be able to attend to such Shareholder's application and will not be able to return any amounts originally remitted on behalf of such Shareholder nor provide any confirmation of tax withholding to such a Shareholder, either in connection with the Ruling or in connection with any other tax filing by such Shareholder. ZIM's Agent Contact Information: IBI Trust Management Tel No: +972-3-519-3896, +972-50-620-9410 Email: ZimDividend@ Link to forms: About ZIM Founded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with established operations in more than 100 countries serving approximately 33,000 customers in over 330 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Additional information about ZIM is available at ZIM Contacts Media: Avner ShatsZIM Integrated Shipping Services Ltd.+972-4-865-2520media@ Investor Relations: Elana HolzmanZIM Integrated Shipping Services Ltd.+ Leon BermanThe IGB Group212-477-8438lberman@ Logo: View original content: SOURCE Zim Integrated Shipping Services Ltd.
First Post
25-05-2025
- Sport
- First Post
ENG V ZIM: McCullum Demands Humility Before Series V India First Sports With Rupha Ramani
ENG V ZIM: McCullum Demands Humility Before Series V India | First Sports With Rupha Ramani | N18G ENG V ZIM: McCullum Demands Humility Before Series V India | First Sports With Rupha Ramani | N18G England's men's cricket team begin a critical rebuilding phase as they take on Zimbabwe in what is seen as a litmus test before the all-important West Indies series and India's Test tour. The 2019 World Cup winners will begin a new era under young captain Harry Brook. Despite boasting talents like Ben Stokes, Joe Root, and Jos Buttler, England have endured a dismal year across formats, losing 24 of their last 48 matches. From Champions Trophy exits to T20 humiliation in India, questions are being raised not just about performance, but attitude. In a fiery press conference, head coach Brendon McCullum called for humility and a reality check within the team. Rupha Ramani explores whether the under-fire English setup will rediscover their identity and reconnect with fans? Or is this just the beginning of more turbulence? See More
Time of India
22-05-2025
- Sport
- Time of India
England vs Zimbabwe One-Off Test Match Live Streaming: When and How to Watch ENG vs ZIM Test Match
England's Shoaib Bashir, Harry Brook, Joe Root and Ben Stokes sit, during a nets session at Trent Bridge, in Nottingham, England, Wednesday May 21, 2025. (Mike Egerton/PA via AP) England vs Zimbabwe: Ben Stokes-led England will take on Craig Ervine's Zimbabwe in a historic one-off four-day Test match against, beginning May 22 at Trent Bridge in Nottingham. The Zimbabweans didn't play a test from 2005-11. From 2022-24, they played just four tests. But between December last year and August this year, they'll have played in 10 tests, with two-match series against South Africa and New Zealand to come this summer. Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW! Zimbabwe isn't expected to offer much resistance to England, having slumped to a 138-run defeat to a Professional County Club Select XI in Leicester last week. Before that, however, it did earn a first test victory since 2021 — winning in Bangladesh on the way to sharing the series 1-1. It's almost time for the historic Test match between England and Zimbabwe 🕛. 🇬🇧🇿🇼 #ENGvZIM #ExperienceZimbabwe — Zimbabwe Cricket (@ZimCricketv) May 22, 2025 For the Zimbabwe test, England will give a debut to Sam Cook, fellow pacer Josh Tongue is returning to the team after a two-year absence, and Gus Atkinson is about to start his second summer of test cricket. There are as many question marks about the only specialist spinner in the team, Shoaib Bashir, and the fitness of allrounder Ben Stokes, returning after a hamstring tear to regain the captaincy. England vs Zimbabwe One-Off Test Match Live Streaming: All you need to know When is the ENG vs ZIM one-off Test scheduled? The England vs Zimbabwe one-off Test is set to start on May 22. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo Where is the ENG vs ZIM one-off Test taking place? The one-off Test between England and Zimbabwe will be played at Trent Bridge Cricket Ground in Nottingham. Bombay Sport Exchange Ep 5: Shane Watson on IPL, India-Australia rivalry | Part 1 Where to watch ENG vs ZIM one-off Test Match The England vs Zimbabwe Only Test will be broadcast in India on Sony Sport Network. Where to watch livestreaming of ENG vs ZIM one-off Test In India, the England vs Zimbabwe Only Test 2025 will be available for live streaming on the Sony Liv app. Who's that IPL player? England vs Zimbabwe squads England: Zak Crawley, Ben Duckett, Joe Root, Harry Brook, Ben Stokes, Jamie Smith, Ollie Pope, James Rew, Shoaib Bashir, Gus Atkinson, Matthew Potts, Samuel James Cook, Josh Tongue Zimbabwe: Craig Ervine (C), Ben Curran, Nick Welch, Brian Bennett, Wessly Madhevere, Sikandar Raza, Sean Williams, Clive Madande, Tafadzwa Tsiga, Richard Ngarava, Trevor Gwandu, Wellington Masakadza, Blessing Muzarabani, Newman Nyamhuri, Victor Nyauchi Get IPL 2025 match schedules , squads , points table , and live scores for CSK , MI , RCB , KKR , SRH , LSG , DC , GT , PBKS , and RR . Check the latest IPL Orange Cap and Purple Cap standings.
Yahoo
21-05-2025
- Business
- Yahoo
Why ZIM Integrated Shipping Services (ZIM) Surged Today
We recently published a list of . In this article, we are going to take a look at where ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) stands against other stocks that stole the show today. Ten mid-cap companies from diverse sectors stood out on Monday, outperforming the lackluster performance of major indices, thanks to a flurry of corporate developments that sparked investor appetite. While the firms boasted between 5 and 14 percent gains, the Dow Jones rose by only 0.32 percent, while the S&P 500 and the tech-heavy Nasdaq each inched up by 0.09 percent and 0.02 percent, respectively. In this article, we list the names of the top-performing stocks and detail the reasons behind their gains. To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume. A fleet of vessels docking at a busy harbor, signaling the company's presence in global marine shipping. ZIM Integrated grew its share prices by 5.67 percent on Monday to end at $19.37 apiece following an impressive earnings performance in the past quarter of the year. In its earnings release, ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) said that net income attributable to shareholders soared by 227 percent to $295.3 million from $90.3 million in the same period last year, as revenues increased by 28 percent to $2 billion from $1.56 billion year-on-year. ZIM Integrated Shipping Services Ltd. (NYSE:ZIM), however, posted a cautiously optimistic outlook for the rest of the year, reaffirming its target adjusted EBITDA of $1.6 billion to $2.2 billion, and adjusted EBIT worth $350 million to $950 million. 'The operating environment is highly uncertain, driven by a range of factors impacting global trade and economic expectations,' said President and CEO Eli Glickman. But 'we are confident that we have built a resilient business and will continue to benefit from the strategic investment in our fleet with larger, more modern, cost-effective capacity, approximately 40 percent of which is LNG-fueled. Supported by our lower cost base, we believe ZIM is well positioned to drive profitable growth over the long term,' he added. Overall, ZIM ranks 9th on our list of stocks that stole the show today. While we acknowledge the potential of ZIM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that has gone up since the beginning of 2025, while popular AI stocks have lost around 25%. If you are looking for an AI stock that is more promising than ZIM but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
