Cut or share out (5)
I believe the answer is:
shear
'cut' is the definition.
(shearing is a kind of cutting)
I can't explain the remainder of the clue.
Can you help me to learn more?
(Other definitions for shear that I've seen before include "Cutter" , "Fleece (a sheep)" , "Remove sheep's wool" , "Barber" , "strain" .)