Eilat Port CEO: "We are proud to transfer to the owners, the state of Israel, the portion they are owed from the profits of the port in the past three years"
The Eilat port company's board of directors approved last week the payment of dividend for the amount of NIS 54m.
Since the state holds 100% of the port's shares, it will be the only recipient.
The money comes from profits accumulated at the port from 2008 and 2010, as well as leftover cash earmarked for development and ongoing investment.
In a press release Eilat Port CEO, Avishai Cohen noted that "We are proud to transfer to the owners, the state of Israel, the portion they are owed from the profits of the port in the past three years", Cohen added that payment of dividend indicates the high profitability and financial strength of the port company.
Doron Slonim the port chief financial officer noted that the port will pay the state additional NIS 40m. before the port is privatized.
The state is currently conducting a tender process over a license to operate the port.
