Ashdod Port paying state NIS 400m dividend

a profit of NIS 381 million in 2009 and NIS 180 million in 2010

Ashdod Port Company Ltd. the leading economic gateway to the State of Israel, will pay the state a dividend of NIS 350-400 million, after posting record profits in the years 2009-10.

Ashdod Port posted a profit of NIS 381 million in 2009 and NIS 180 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.