B Communications Expects to Receive Approximately NIS 286 Million in Dividends
- The dividend is expected to be paid on October 26, 2015 –
Ramat-Gan, Israel, September 21, 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”.