The minister in charge of the Government Companies Authority, David Amsalem, approved the distribution of trapped dividends by state-owned defense company Rafael Advanced Defense Systems today. Rafael will transfer NIS 444 million to the state, “Globes” has learned. Previously, Minister of Defense Israel Katz gave his approval to the move.

Amsalem praised Rafael’s 8,500 employees for their contribution to the State of Israel. The minister said that the company was a model of excellence and boldness in Israel’s defense industry, and that the dividend would be an important means of continuing to develop the country’s defenses.

Amsalem instructed Government Companies Authority director Roi Kahlon to pursue a proactive policy in all the competitive government companies. In this context, substantial dividend payments are expected in the coming year, with the aim of supporting war needs and funding the state budget. Amsalem stressed that strong, efficient state-owned companies were a vital component of Israel’s economy, and that they should be run with a view to maximizing their profits and applying those profits to the benefit of the public, as in the payment of dividends.

Rafael is due to publish its 2024 financials towards the end of March. These will probably show another record year for the company, as in the case of Israel Aerospace Industries, which released financials this week showing a record $25 billion orders backlog at the end of 2024.

Published by Globes, Israel business news – en.globes.co.il – on March 13, 2025.

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