Ashdod Port to pay state NIS 330m dividend

The port posted record profits in the years 2008-2010.
 
Ashdod Port Company Ltd. the leading economic gateway to the State of Israel, will pay 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.