ZIM dividend zeroed due to Q1 net losses of $58m – stock down 17% in early trade

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SEEKING ALPHA reports:

– ZIM Integrated Shipping Services (NYSE:ZIM) will not pay a dividend to shareholders on account of the net loss recorded in the first quarter of 2023.

– The company’s dividend policy remains unchanged, distributing 30-50% of annual net income as a dividend to shareholders. Dividend payments will be made on a quarterly basis at a rate of 30% of the net quarterly income of the first three fiscal quarters of the year…

The full post is here.

The full Q1 23 numbers are here.

Previously out on Seeking Alpha: “ZIM GAAP EPS of -$0.50 misses by $0.28, revenue of $1.37B misses by $220M“.

Stock down 9% in pre-market trade.