As long expected,

Agis Industries

(TASE:AGIS) today announced dividends of NIS 57.8 million, or NIS 2 per share.

The dividends will be given to all shareholders except for Agis subsidiaries that hold shares in the parent company.

The dividends are on profits made from 1990 to 1993, and for NIS 14.5 million dividends that Agis received from its subsidiary ChemAgis.

The final date for the dividend is July 15, 2002, and the date of payment is August 1. Applicable tax will be 15%, the company says.

The capital market has expected the dividend for some time, based on the amount of profit Agis has to distribute NIS 543 million. Over the years analysts had criticized the company for not sharing it out, saying it made little sense for the company to finance all its activities using its own equity, a strategy that reduced returns on its capital.

Agis stock is up 3.5% at the opening of the Tel Aviv Stock Exchange.