Bank Leumi Board Reinstates Dividend After Six-Year Drought
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Bank Leumi Le-Israel Ltd. will pay a dividend for the first time in six years after shoring up its finances with asset sales and measures to lower costs, including job cuts.
Israel’s second-biggest bank will pay 20 percent of profits starting in the first quarter, according to an emailed statement. The bank’s capital ratio measuring financial strength rose to 11.15 percent at the end of 2016, above regulatory requirements for distributing dividends.