Mike Havrilla

Bullish on Telcos

Here is info on dividend history over the past year for CEL:

Cellcom Israel Ltd. announced that it has declared a cash dividend in the amount of NIS 2.76 per share, and in the aggregate amount of approximately NIS 270 million (the equivalent of approximately $0.77 per share and approximately $76 million in the aggregate, based on the representative rate of exchange on August 11, 2008; the actual $ amount for dividend paid in $ will be converted from NIS based upon the representative rate of exchange published by the Bank of Israel on September 4, 2008). The dividend will be payable to all of the Company's shareholders of record at the end of the trading day in the NYSE on August 25, 2008. The payment date will be September 8, 2008.

Cellcom Israel Ltd. announced that the Company's Board of Directors declared a cash dividend in the amount of NIS 2.65 per share, and in the aggregate amount of approximately NIS 258 million (the equivalent of approximately $0.77 per share and approximately $75 million in the aggregate, based on the representative rate of exchange on May 13, 2008; The actual $ amount for dividend paid in $ will be converted from NIS based upon the representative rate of exchange published by the Bank of Israel on June 4, 2008). The dividend will be payable to all of the Company's shareholders of record at the end of the trading day in the NYSE on May 27, 2008. The payment date will be June 10, 2008.

Reuters reported that Cellcom Israel Ltd.'s Board declared a cash dividend of ILS7.18 per share ($2.10) or a total of ILS700 million to be paid on April, 14. This includes a dividend for the fourth quarter of ILS1.78 per share and a one-time extraordinary dividend for the year of ILS5.4 per share.

Cellcom Israel Ltd. announced that it has declared a cash dividend in the amount of NIS 2.06 per share, and in the aggregate amount of approximately NIS 201 million, the dividend will be payable to all shareholders of record at the end of the trading day in the NYSE on August 23, 2007. The payment date will be September 6, 2007.

Bullish on Telcos

I update the index quarterly with the last update on 5/5/08 - the historical prices for ETF ticker are $20.64 from a year earlier and $23.77 on 5/5/08.