Kenon Holdings Declares $3.85 Dividend and OPC Posts $132 M Profit
Kenon’s board approved a $3.85 per share cash dividend totaling about $200 million and settled a capped call on five million ZIM shares for $34 million gross proceeds in Q1 2026. OPC raised NIS 800 million (~$257 million) via private share issuance and delivered $132 million net profit in 2025, up from $53 million.
1. Dividend Approval and Capital Allocation
Kenon’s board of directors approved a cash dividend of $3.85 per share in March 2026, representing approximately $200 million distributed to shareholders. This allocation underscores the company’s focus on returning capital amid strong cash flows.
2. Capped Call Settlement
In the first quarter of 2026, Kenon cash settled its capped call arrangement on five million ZIM shares, resulting in gross cash proceeds of about $34 million before taxes. This transaction bolsters Kenon’s liquidity position and simplifies its equity exposure to ZIM.
3. OPC Private Placement
OPC issued new shares in a private placement in March 2026, raising gross proceeds of NIS 800 million (around $257 million). The infusion strengthens OPC’s balance sheet and supports its ongoing infrastructure and energy projects.
4. OPC Full-Year 2025 Results
OPC reported a net profit of $132 million for 2025, up from $53 million in 2024, driven by a $152 million share in profit from associated companies. Adjusted EBITDA, including proportional share in associated entities, rose to $457 million from $332 million, reflecting higher revenues and operational efficiency gains.