After Israel’s banks froze the distribution of dividends due to the outbreak of the Covid pandemic, Bank Hapoalim (TASE: POLI) has become the first local bank to announce that it is resuming the payment of dividends. Hapoalim will distribute a dividend of NIS 618 million on 2020’s profits – the maximum amount allowed by the Bank of Israel. The dividend will be distributed on August 18.
This is the first time since the first quarter of 2018 that Hapoalim will be distributing a dividend from profits. Last month, the Bank of Israel gave approval for the distribution of dividends of up to 30% of net profit in 2020, although instructions on reducing capital adequacy remains in effect until September.
Published by Globes, Israel business news – en.globes.co.il – on August 1, 2021
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