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Ashdod Port Company paid state NIS330 million dividend

The port posted a profit of NIS 210 million in 2010
30.12.12 / 00:00
Ashdod Port Company paid state NIS330 million dividend
30.12.12
Ashdod Port Company paid state NIS330 million dividend

Ashdod Port Company Ltd. the leading economic gateway to the State of Israel, paid the state a dividend of NIS 330 million, after posting record profits in the years 2008-10.

Ashdod Port posted a profit of NIS 277 million in 2008, NIS 200 million in 2009 and NIS 210 million in 2010.

Under Government Companies Authority rules, a government company must pay half of its net profit as a dividend as a condition for distributing bonuses to its employees.

However, the Government Companies Authority normally demands a dividend of 60% of a company's net profit.

Ashdod Port is the leading economic gateway to the State of Israel with a strategically advantageous location, about 40 km. from Tel Aviv and close to the country’s major commercial centers and highways.

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