JERUSALEM, March 21 (Reuters) -
* Israeli real estate developer Azrieli Group reported on Wednesday fourth-quarter adjusted net profit of 268 million shekels ($77 million), up from 226 million a year earlier.
* Azrieli, which built Tel Aviv’s Azrieli office and shopping complex, said net operating income (NOI), which reflects the group’s core business, rose 7 percent to 360 million.
* During the quarter the company invested 411 million shekels in the purchase of new properties, redevelopment and construction of new properties.
* Azrieli declared a dividend of 520 million shekels, or 4.29 shekels per share, up 8 percent from 2016.
* ($1 = 3.4746 shekels) (Reporting by Steven Scheer; Editing by Tova Cohen)