Gilat will distribute a $ 35 million dividend in January – the capital market

The satellite company

Gilat
+ 2.25%

Base:2,042

opening:2007

Tall:2,091

low:1,986

change:4,198,297

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Announced today that the company’s board of directors has announced a cash dividend distribution to shareholders of 63 cents per share (EPS), or a dividend of approximately $ 35 million. This is after receiving approval from the court for the distribution of dividends.

“The dividend will be paid in dollars on January 20, 2021, to shareholders who will be registered in the Company’s shareholders’ register on January 11, 2021,” the company said in a statement. “Together with a $ 20 million dividend distributed at the beginning of the month, the total amount of dividends to be distributed to shareholders amounts to about $ 55 million, or 99 cents per share.

The company will deduct tax at source from the amount to be paid as a dividend according to the tax laws in Israel. The company has submitted an application to the Israeli Tax Authority for a decision regarding the dividend and will announce the main points of the decision upon its adoption.

“I am pleased to receive the approval of the court for the distribution of this significant dividend to our shareholders,” said Adi Tzafdia, CEO of Gilat. We are examining, “he added.

In addition, the company reported that the company’s interim CFO, Bashmat Halpern, who replaced Tzafdia eight as CEO, has been appointed permanent CFO. To the Company’s fixed funds. I am confident in her abilities to contribute from her rich experience in navigating Gilat to success in 2021, “he concluded.

Meanwhile, since the beginning of the year, the company’s share has lost more than 20% of its value, while in the 12 months the decline is a little over 19%. However this month the company is up 1.6%. Gilat’s market value currently stands at NIS 1.1 billion.