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Ashdod Port To Pay Dividend For 2019-2020

Ashdod Port to pay dividend for 2019-2020

Ashdod, Israel (PortSEurope) December 20, 2021 – The Board of Directors of Port of Ashdod has approved the distribution of a dividend of NIS 90 million (€25.5 million) for the years 2019-2020. For the years 2016-2018, the comoany paid dividends of NIS 100 million to the state. Despite problems caused by the Covid-19 coronavirus crisis and international supply chain issues, the port has reported stable
financial numbers for the first nine months of 2021. In the period, revenue was NIS 885 million, up 15% on the same period of 2020. In addition, there was an increase of about 27.5% in total vehicle traffic – 95,000,000 units in the same period. In a related development, credit rating company Maalot S&P has approved a debt rating of AA + for the Port of Ashdod and is updating the rating forecast to a negative position, despite the opening of the two private ports and the expected significant competition. Maalot S&P said that the Port of Ashdod has overcome the Covid-19 coronavirus crisis while maintaining a level of revenue almost identical to pre-Covid years, while maintaining the market share in the container sector. In an announcement, Orna Hozman-Bechor, Chairman of the Port of Ashdod’s Board of Directors, said: “The Company’s Board of Directors has approved a substantial dividend distribution thanks to the good performance of the Port of Ashdod indicating that we are a key, professional and stable player responsibly navigating the turbulent waters of our time. We continue to act with caution and determination in the face of the local and global challenges before us. Since the beginning of the year, we have shown good operational and financial achievements, despite the corona plague that continues to accompany us and has affected all sectors of activity in the economy. We are working on all levels so that the growth momentum that has accompanied us since the second half of 2020 will continue to look ahead”. More PortSEurope news about the Port of Ashdod Copyright (C) PortSEurope. All Rights Reserved. 2021.

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