Gazit-Globe Swings To Q1 Profit

Israel's Gazit-Globe Ltd

posted a profit in the first quarter. Gazit-Globe's quarterly net profit came in at 260 million shekels ($67.4 million), versus a quarterly net loss of 14 million. Its property rental income climbed 11% to 1.41 billion shekels. Gazit-Globe's net operating income surged 13% to 935 million shekels. Gazit-Globe announced its plans to pay a dividend of 0.4 shekel per share, versus 0.39 shekel per share, in the year-earlier period. Gazit-Globe shares closed at $9.93 yesterday.