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The General Assembly of the Palestinian Electric Company approves the distribution of cash dividends as of %10 from capital

2009-04-26

The General Assembly of the Palestinian Electric Company approved at an ordinary meeting held yesterday, the recommendation of the Board of Directors to distribute cash dividends to shareholders by %10 of the capital, starting from next June 25.
The company posted a net profit of $6.872 million for the year 2008 compared to $4.553 million in the year 2007.
The Executive Director of the Palestinian Electricity Company Mr. Walid Salman pointed out during the meeting which was held yesterday, both in the capital of Jordan and Gaza and Ramallah via video conferencing, to the most important achievements of the Company for the year 2008, including the reduction of debt owed to the Arab Bank and attaining financial payments from the Palestinian National Authority in addition to  reducing the outstanding unpaid debt from the energy authority and   compensate the company with all costs in the hard circumstances and the signing of a memorandum of understanding with the authority to expand the power station to generate electricity Gaza.