Partner Communications Announces Dividend Distribution of NIS 1.94 Per Share for the Third Quarter of 2009
November 09 2009 - 7:06AM
Business Wire
Partner Communications Company Ltd. ("Partner" or "the
Company") (Nasdaq:PTNR)(TASE:PTNR), a leading Israeli mobile
communications operator, announced today that its Board of
Directors approved the distribution of a dividend for the third
quarter of 2009 of NIS 1.94 (US 52 cents) per share or ADS (in a
total of approximately NIS 300 million or US$ 80 million) to
shareholders and ADS holders of record on November 25, 2009. The
dividend is expected to be paid on December 10, 2009.
The Company is currently reviewing its dividend policy for 2010.
The Company is also considering a capital reduction in order to
distribute a one-time dividend of over NIS 1 billion. If approved
by the Board of Directors and the applicable court, the
contemplated capital reduction will likely take place during the
first quarter of 2010.
Forward-Looking
Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the US Securities Act of 1933, as
amended, Section 21E of the US Securities Exchange Act of 1934, as
amended, and the safe harbor provisions of the US Private
Securities Litigation Reform Act of 1995. Words such as "believe",
"anticipate", "expect", "intend", "seek", "will", "plan", "could",
"may", "project", "goal", "target" and similar expressions often
identify forward-looking statements but are not the only way we
identify these statements. All statements other than statements of
historical fact included in this press release regarding our future
performance, plans to increase revenues or margins or preserve or
expand market share in existing or new markets, reduce expenses and
any statements regarding other future events or our future
prospects, are forward-looking statements.
We have based these forward-looking statements on our current
knowledge and our present beliefs and expectations regarding
possible future events. These forward-looking statements are
subject to risks, uncertainties and assumptions about Partner,
consumer habits and preferences in cellular telephone usage, trends
in the Israeli telecommunications industry in general, the impact
of current global economic conditions and possible regulatory and
legal developments. For a description of some of the risks we face,
see "Item 3D. Key Information - Risk Factors", "Item 4. -
Information on the Company", "Item 5. - Operating and Financial
Review and Prospects", "Item 8A. - Consolidated Financial
Statements and Other Financial Information - Legal and
Administrative Proceedings" and "Item 11. Quantitative and
Qualitative Disclosures about Market Risk" in the form 20-F filed
with the SEC on April 27, 2009. In light of these risks,
uncertainties and assumptions, the forward-looking events discussed
in this press release might not occur, and actual results may
differ materially from the results anticipated. We undertake no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
The convenience translations of the Nominal New Israeli Shekel
(NIS) figures into US Dollars were made at the rate of exchange
prevailing at September 30, 2009: US $1.00 equals NIS 3.758. The
translations were made purely for the convenience of the
reader.
About Partner
Communications
Partner Communications Company Ltd. ("Partner") is a leading
Israeli provider of telecommunications services (cellular,
fixed-line telephony and internet services) under the orange™
brand. The Company provides mobile communications services to over
3 million subscribers in Israel (as of September 30, 2009).
Partner’s ADSs are quoted on the NASDAQ Global Select Market™ and
its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and
TASE: PTNR).
Partner is an approximately 45%-owned subsidiary of Scailex
Corporation Ltd. ("Scailex"). Scailex's shares are traded on the
Tel Aviv Stock Exchange under the symbol SCIX and are quoted on
"Pink Quote" under the symbol SCIXF.PK. Scailex currently operates
in three major domains of activity: 1) the exclusive import,
distribution and maintenance of Samsung mobile handset and
accessories products primarily to the three major cellular
operators in Israel; 2) distribution and sale of various
manufacturers' mobile handsets, accessories and provision of
maintenance services, through a chain of retail stores and booths
("Dynamic"), to end customers of Cellcom Israel (as part of the
acquisition of the controlling stake in Partner, Scailex announced
to Cellcom the termination of the distribution agreement through
Dynamic, effective July 1, 2010) and; (3) management of its
financial assets.
For more information about Scailex, see
http://www.scailex.com
For more information about Partner, see
http://www.orange.co.il/investor_site/.
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