- The dividend is expected to be paid on October 26, 2015 -
B Communications Ltd. (Nasdaq and TASE: BCOM) (“B Communications”)
announced today that on September 21, 2015 shareholders at the General
Meeting of its controlled subsidiary, Bezeq - The Israel
Telecommunications Corp., Ltd. ("Bezeq"), approved the payment of a
dividend of NIS 933 million to Bezeq's shareholders. The dividend, which
is based on Bezeq’s dividend distribution policy, is expected to be paid
on October 26, 2015. B Communications expects to receive approximately
NIS 286 million (approximately US$ 74 million at current exchange rates)
from this distribution.
“During the recent period, we continued to execute our business plan, by
leveraging Bezeq's stable platform, strong financial position and
competitive advantages to create value for our shareholders and provide
comfort to our debt investors,” said Doron Turgeman, CEO of B
Communications. "In the past five years, we have focused aggressively on
deleveraging, and now, with our balance sheet in good shape, we believe
now is the right time to use the new dividend proceed in order to return
capital to our shareholders while continuing maintain sufficient
resources to service our debt."
About B Communications Ltd.
B Communications is a holding company with a controlling interest in
Israel’s largest telecommunications provider, Bezeq, The Israel
Telecommunication Corp. (TASE: BEZQ). B Communications shares are traded
on NASDAQ and the TASE under the symbol “BCOM.” For more information
please visit the following Internet sites:
www.bcommunications.co.il
www.ir.bezeq.co.il
www.eurocom.co.il
www.igld.com
Forward-Looking Statements
This press release contains forward-looking statements that are subject
to risks and uncertainties. Factors that could cause actual results to
differ materially from these forward-looking statements include, but are
not limited to, general business conditions in the industry, changes in
the regulatory and legal compliance environments, the failure to manage
growth and other risks detailed from time to time in B Communications'
filings with the Securities Exchange Commission. These documents contain
and identify other important factors that could cause actual results to
differ materially from those contained in our projections or
forward-looking statements. Stockholders and other readers are cautioned
not to place undue reliance on these forward-looking statements, which
speak only as of the date on which they are made. We undertake no
obligation to update publicly or revise any forward-looking statement.
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