May 28, 2018 / 10:01 AM / 6 months ago

Israel real estate developer Gazit-Globe Q1 loss widens

JERUSALEM, May 28 (Reuters) -

* Gazit-Globe , Israel’s largest real-estate company, recorded on Monday a wider loss in first-quarter net profit and declared it would pay a quarterly dividend of 73 million shekels ($20.5 million).

* The company said it had a quarterly net loss 2.51 shekels per diluted share compared with a loss of 1.44 per diluted share a year earlier.

* Economic funds from operations (FFO), a measure of cash generated, fell 3.4 percent to 168 million shekels.

* Property rental income rose to 711 million shekels from 698 million, while net operating income rose to 492 million shekels from 477 million. Excluding the effect of exchange rate fluctuations, NOI fell 2.2 percent.

* ($1 = 3.56 shekels) (Reporting by Ari Rabinovitch, Editing by Steven Scheer)

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