PEI to pay state NIS 74.5m dividend

Government owned Petroleum & Energy Infrastructures posted NIS 276 million revenue in 2006.

Sources inform ''Globes'' that Petroleum and Energy Infrastructures Ltd., a wholly owned government company, will distribute a NIS 74.5 million dividend to the state. The company stores, transports, and distributes fuel products. The company’s management recommended the dividend to the board on the basis of the company’s increase in activity and profit growth. Revenue and profits have grown substantially in recent years thanks to a thorough restructuring of the company.

Petroleum and Energy Infrastructures posted NIS 276 million revenue in 2006, up from NIS 201 million in 2004.

Published by Globes [online], Israel business news - www.globes.co.il - on May 16, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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