Delek Group Ltd. (TASE: DLEKG) has declared a NIS 120 million dividend. The record date for receiving the dividend is July 11, and the payment date is July 24. The biggest beneficiary of the dividend payment is Delek Group controlling shareholder Yitzhak Tshuva, who owns 60.5% of the company and will receive NIS 72 million. Last week, Delek announced that its board had approved a NIS 50 million share buyback program. Delek Group's stock price has fallen by more than 30% over the past year, shrinking its market cap to less than NIS 6 billion. RELATED ARTICLES Delek Royalties raises NIS 130m more but cuts valuation 15% Delek Group revenue, profit up in Q1 Delek Group posted a profit of NIS 243 million for the first quarter, 11% more than in the first quarter of 2017. At the end of the quarter, the company had NIS 1.9 billion cash. Published by Globes [online], Israel business news - www.globes-online.com - on July 1, 2018 © Copyright of Globes Publisher Itonut (1983) Ltd. 2018
