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.