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December 19, 2010, 11:02 AM EST
By Ronit Goodman
(Updates with trader comment in third paragraph.)
Dec. 19 (Bloomberg) -- Bezeq Israeli Telecommunication Corp., the country’s largest communications company, said its board is considering a distribution of 3 billion shekels ($835 million).
The company is weighing the timing and whether the payment will be a cash dividend, share buyback or combination of both, Tel Aviv-based Bezeq said today in a statement to the city’s stock exchange.
“The company again has proved to be a cash cow,” Yuval Amiram, head of institutional sales at Tel Aviv-based IBI said by telephone. The dividend would be “one of the biggest” ever paid in Israel, he said.
The shares rose the most in two weeks, increasing 2.4 percent to 10.20 shekels at the 4:30 p.m. close in Tel Aviv.
--Editors: Susan Lerner, Shanthy Nambiar.
To contact the reporter on this story: Ronit Goodman in Tel Aviv at rgoodman9@bloomberg.net
To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net
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(Updates with trader comment in third paragraph.)
Dec. 19 (Bloomberg) -- Bezeq Israeli Telecommunication Corp., the country’s largest communications company, said its board is considering a distribution of 3 billion shekels ($835 million).
The company is weighing the timing and whether the payment will be a cash dividend, share buyback or combination of both, Tel Aviv-based Bezeq said today in a statement to the city’s stock exchange.
“The company again has proved to be a cash cow,” Yuval Amiram, head of institutional sales at Tel Aviv-based IBI said by telephone. The dividend would be “one of the biggest” ever paid in Israel, he said.
The shares rose the most in two weeks, increasing 2.4 percent to 10.20 shekels at the 4:30 p.m. close in Tel Aviv.
--Editors: Susan Lerner, Shanthy Nambiar.
To contact the reporter on this story: Ronit Goodman in Tel Aviv at rgoodman9@bloomberg.net
To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net
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