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PALTEL approves distributing 40% cash dividends and one share in the new established company for each share owned in PALTEL

2022-03-23

The general assembly of Palestine Telecommunications Company PALTEL approved, in its ordinary meeting on 22/03/2022, distributing 40% cash dividends for the shareholders for the year 2021, to record dividends yield of 6.96% based on the price on the entitlement date. The general assembly also approved, in its extraordinary meeting on the same date, granting one share in the new established company according to the board of directors meeting decision on 03/11/2021 for each owned share in PALTEL. The general assembly will delegate Palestine Capital Market Authority PCMA to determine the shareholders entitled for the new shares within maximum 60 days from the extraordinary general assembly meeting data after approving the prospectus for the new established company.