Bezeq shareholders authorize NIS 2.4b dividend

Bezeq Israel Telecommunications Company Ltd. shareholders approved the distribution of a NIS 2.45 billion dividend at a general shareholders meeting on Thursday. The shareholders also approved the maximum possible bonus for chairman Shlomo Rodav.

Bezeq will distribute a dividend of NIS 0.91 per share, amounting to 91.7% of the company's oustanding equity. The actual amount of the dividend will be determined on the basis of the shareholders' equity on April 15, the date of record. The ex-date is April 18 and the payment date will be on May 3.

In its financial report for 2009, Bezeq said that Rodav will receive a bonus equal to 18 monthly salaries, amounting to NIS 3.44 million. When the company published the financials last month, it stated, "The bonus to Rodav was approved in great appreciation for his achievements in 2009. During the year, the chairman's conduct was professional and thorough, leading the group to impressive achievements at a time when the Israeli and global economies were suffering from severe crises. This was reflected in the group's excellent results for 2009, including in comparison with the financial results in 2008."

Published by Globes [online], Israel business news - www.globes-online.com - on April 11, 2010