May 30 (Bloomberg) -- Big Shopping Centers (2004) Ltd. advanced the most in more than two months after the operator of open-air shopping centers said first-quarter profit jumped 31 percent and the company started paying dividends.
The shares jumped 4.5 percent, the most since March 21, to 90.32 shekels at the 4:30 p.m. close in Tel Aviv, giving the Herzlia, Israel-based company a market value of 1.05 billion shekels ($304 million).
Net income rose to 30.1 million shekels from 23 million shekels a year earlier as revenue surged 86 percent, Big said today in a statement to the Tel Aviv Stock Exchange. Separately, the company said it will begin paying an annual dividend of 30 million shekels.
To contact the reporter on this story: Susan Lerner in Jerusalem at email@example.com
To contact the editor responsible for this story: Claudia Maedler at firstname.lastname@example.org