B Communications reports ILS40m in Q2 2016 net income

B Communications Ltd. (NASDAQ: BCOM) (TASE: BCOM) has reported consolidated net income for the second quarter of 2016 totaled ILS 264 million (USD69 million), a 0.8 percent decrease compared with ILS 266 million reported in the second quarter of 2015, the company said.

The company´s consolidated revenues for the second quarter of 2016 totaled ILS2.5 billion (USD653 million), a 3.5 percent decrease compared to the ILS2.6 billion reported in the second quarter of 2015.

B Communications´ consolidated operating income for the second quarter of 2016 totaled ILS517 million (USD134 million), a 15.5 percent decrease compared to ILS612 million reported in the second quarter of 2015.

On May 25, 2016, the company´s board of directors declared a cash dividend of ILS355 million (USD92 million), or ILS11.88 (USD3.09) per share. The dividend was paid to the company´s shareholders on June 29, 2016.

On May 26, 2016, the company announced that its wholly owned subsidiary, B Communications (SP4) LP, had invited holders of the company´s 7â…œ percent senior secured notes due 2021 to submit tenders to purchase their notes for cash

B Communications Ltd. is a holding company with a controlling interest in Israel´s largest telecommunications provider, Bezeq, The Israel Telecommunication Corp. (TASE: BEZQ).