The board of directors of Paz Oil Company Ltd. approved the distribution of a ILS 250 million dividend. The dividend of ILS 0.246 per share gives an annual dividend yield of 4.4%. The ex-date for the dividend is January 15, and the payment date is January 26, 2014.

The current dividend boosts the total to ILS 1.55 billion, and the company has ILS 800 million in profits available for distribution.