Tech Watch: Bezeq, Pelephone, Cellcom declare dividends

Despite a 5% decline, Bezeq is expected to distribute NIS 1.2 billion in dividends to shareholders.

By AVI KRAWITZ
March 5, 2006 08:09
2 minute read.
Tech Watch: Bezeq, Pelephone, Cellcom declare dividends

cell phone 88. (photo credit: )

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Dividends were the talk of the local telecommunications market this week as Bezeq said it expects to distribute NIS 1.2 billion worth to shareholders, despite posting a 5 percent decline in net income to NIS 591 million in 2005. Revenues for the year were NIS 11.1b. Its cellular subsidiary Pelephone, which had a 27% decline of profits in 2005 to NIS 236m., will distribute a dividend of NIS 300m. to Bezeq. Earlier in the week, fellow cellular provider Cellcom Israel Ltd. said it plans to raise NIS 4.2b. through the sale of bonds and to distribute NIS 3.64b. of the proceeds as a dividend. Meanwhile, in presenting its earnings as part of the Bezeq group, multi-channel television provider Yes said it added 10,000 subscribers in the four months ended January, increasing its total to 522,000. This helped Yes narrow its net loss from NIS 301m. in 2004 to NIS 236m. last year. Information technology products supplier Formula Systems reported a drastic drop in net income in 2005 to $183,000, from $8.1m. in 2004. The Herzliya-based company said weakness in certain subsidiaries and a reassessment of intangible assets and deferred tax assets in certain of our subsidiaries, resulted in "unsatisfactory" financial results. Israel Technology Acquisition Corporation has agreed to purchase IXI Mobile, Inc., the developer of the Ogo family of mobile messaging solutions, in a stock options transaction, where IXI owners will own or have the right to acquire approximately 7.8 million shares of ITAC common stock. Seattle-based IXI has an R&D facility in Israel. Airport City-based AudioCodes has brought to market its MediaPack MP-202 Telephone Adapter, a member of the MediaPack gateway series, based on AudioCodes' VoIPerfect core technology. The product benefits from advanced voice technologies for an enhanced voice quality and user experience, and will allow residential and SOHO subscribers to connect ordinary POTS telephones or fax machines, and can be applied to leading softswitches and SIP application servers for enabling legacy phone services such as caller ID, call waiting and call forwarding. Wireless broadband solutions provider Alvarion Ltd., announced the commercial availability of BreezeACCESS 4900, an extension of its market leading wireless broadband platform using the 4.9 GHz frequency band. The platform was developed specifically to meet the secure broadband communications needs of the US public safety market. Givat Savyon-based quality assurance provider Tescom Software Systems Testing Ltd. has won a tender for software testing and quality assurance with Israel Industrial Products, a sister company of Israel Chemicals. Israeli Internet security giant Check Point Software Technologies Ltd. was named a 2006 CRN Channel Champion in the network security software category based on results collected from a study indicating Check Point's channel leadership.

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection

By GLOBES, NIV ELIS