JERUSALEM, May 23 (Reuters) - The Tel Aviv Stock

Exchange (TASE) said on Thursday that listed companies

will be required to report dividends on a per share basis,

rather than the overall distribution amount, the latest step by

the Israeli bourse to align itself with global markets.

The measure, which still requires approval from the Israel

Securities Authority and finance minister, would go into effect

on Feb. 1, 2025.

"This is the common practice at leading international

exchanges, including in the United States and the United

Kingdom," the TASE said in a statement.

"This move is designed to encourage the activity of foreign

investors on TASE, thereby enhancing the liquidity in the equity

market, while also providing local and international investors

with certainty regarding the dividend per share amount and

allowing for a more accurate calculation of the ex-price."

More than 75% of TASE-listed companies already report the

dividend per share amount, it said.

Under the directive, companies will be able to update the

final dividend per share amount until two trading days prior to

the record date.

The TASE on Wednesday said it earned an adjusted net profit

of 27.8 million shekels ($7.6 million), up 7% over the year

earlier quarter, with revenue up 8% to 108.3 million shekels.

In the first three months of the year, the market cap of

equity firms rose 9% from the end of 2023 to 1.15 trillion

shekels, with daily trading volume up 7%.

"It is crucial that the government proactively encourage

investments in the Israeli capital market, which is a key

component of Israel's economic and national resilience," said

TASE CEO Ittai Ben Zeev.

He said "decisive actions" must be taken to remove barriers

and boost the attractiveness of investing in Israel and in

particular for foreign investors.

Last week, the TASE said it plans to alter its schedule and

add Friday to the trading week in a bid to strengthen its global

profile.

The exchange hopes a decision to shift away from Israel's

Sunday to Thursday work week to one that overlaps more with Wall

Street and European bourses will win inclusion in global index

provider MSCI's Europe category.

($1 = 3.6692 shekels)