March 7, 2018 / 7:24 AM / 5 months ago

Bezeq Israel Telecom cuts dividend to 70 pct of net profit

TEL AVIV, March 7 (Reuters) - Bezeq Israel Telecom said on Wednesday it was revising its dividend policy and will start to distribute 70 percent of its net profit semiannually, instead of the 100 percent it paid until now.

“The board of directors sees importance in maintaining a balance between securing the company’s financial strength and stability, while preserving its ‘AA’ credit rating over time, and providing shareholders with value by distributing dividends,” the company said in a statement.

The Israel Securities Authority (ISA) has been investigating Bezeq over possible fraud and financial reporting offences.

Reporting by Tova Cohen Editing by Steven Scheer

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