Max Stock Limited Announces Immediate report of a cash dividend
Max Stock Limited Announces Immediate report of a cash dividend
PR Newswire
CAESAREA, Israel, March 26, 2024
Regulation 37(a) of the Securities Regulations (Periodic and Immediate Reports), 1970
CAESAREA, Israel, March 26, 2024 /PRNewswire/ -- Max Stock Limited (TASE: MAXO) (the "Company") today declared a cash dividend totaling ILS 60 million (~ ILS 0.43 per share), as follows:
On March 25, 2024, the Company's board of directors approved a dividend of ILS 60 million (ILS 0.430539 per share) to be paid on April 16, 2024. The date of record for the dividend is April 2, 2024. For tax purposes 100% of the dividend has been recognized as deriving from revenues generated by an Israeli resident company liable in Israeli corporate tax.
The board of directors approved the dividend after applying the profit and solvency tests under Section 302 of the Israel Companies Law, 1999. According to the Company's financial statements as of December 31, 2023, the Company will have distributable profits totaling ILS 107,012,000 following the aforementioned distribution.
It should be noted that the exercise price for Company options issued to Company employees and officers under the Company's option plan will be adjusted following the distribution according to the mechanism stipulated in the options plan.
This is an English translation of segments of a Hebrew immediate report published on March 26, 2024 (Reference no: 2024-01-031500) (hereinafter: the "Hebrew Version"). This English version is only for convenience purposes. This is not an official translation and has no binding force. Whilst reasonable care and skill have been exercised in the preparation hereof, no translation can ever perfectly reflect the Hebrew Version. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.
About Max Stock
Max Stock is Israel's leading extreme value retailer, currently present in 65 locations throughout Israel and 2 locations in Portugal. We offer a broad assortment of quality products for customers' everyday needs at affordable prices, helping customers "Dream Big, Pay Small". For more information, please visit https://ir.maxstock.co.il
Company Contacts:
Talia Sessler,
Chief Corporate Development and IR Officer
talia@maxstock.co.il
SOURCE Max Stock Limited
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