Ashdod Port distribute its first-ever dividend

The dividend amounts to 30% of the company’s aggregate NIS 218 million profits in the three years period 2005-07
 
Ashdod Port Company Ltd. announced last week it will distribute its first-ever dividend to the government, amounting to NIS 65.4 million.
 
In a press release the port said that the dividend follows the ports reform of 2005, and comes after the distribution of a NIS 100 million dividend by Haifa Port Company Ltd. and NIS 35 million dividend by Eilat Port Company Ltd.
 
Jacob Raz, Chairman of the Board, said that the dividend amounts to 30% of its aggregate NIS 218 million profits in the three years period 2005-07.
 
Ashdod Port CEO Shuki Sagis, chairman Jacob Raz, and Asaf Regev, representing Government Companies Authority, decided on the dividend at a meeting last Thursday. The company's board will approve the dividend at its upcoming meeting.
 
Jacob Raz Chairman of the Board noted that the port was profitable and expressed high hopes that it will continue to be profitable despite the harsh international economic conditions.
 
Altogether, the state will receive NIS 200 million in dividends from the three ports companies on their profits, in addition to the royalties the ports companies pay to Israel Ports Development & Assets Company Ltd.