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From the Liveblog of Sunday, January 12, 2025

Food giant Tnuva to distribute huge dividend after record revenues amid price hikes – report

By Sharon Wrobel

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12 January 2025, 11:49 am 5 Edit

Sharon Wrobel is a tech reporter for The Times of Israel.

File: Tnuva milk products at the Shufersal Deal Katzrin branch, in the Golan Heights, on May 2, 2023. (Michael Giladi/Flash90)

Israeli food maker giant Tnuva is said set to distribute a huge dividend of NIS 500 million ($136 million) after generating record revenues bolstered by a number of price hikes in 2024, financial daily Calcalist says in a report.

The dividend will be distributed based on 2024 earnings. Tnuva’s revenues in 2024 reached a peak of NIS 9 billion, and its earnings before interest, taxes, depreciation, and amortization (EBITDA) is close to NIS 1 billion, according to estimates cited by Calcalist.

Tnuva declines to comment on the report when contacted by The Times of Israel.

Tnuva is controlled by Chinese food multinational Bright Food, which bought a 77 percent stake in 2014. Kibbutzim organizations hold the remaining 23% stake.