Ormat Technologies Inc. approved the payment of a quarterly dividend of $0.06 per share pursuant to the company's dividend policy, which starts at an annual payout ratio of at least 20% of the company's net income, subject to Board approval. The dividend will be paid on December 1st, 2009, to shareholders of record as of the close of business on November 18th, 2009. The company provided capital expenditure guidance for 2009. For the period, the company expects to invest $40 million for the enhancement of existing power plants, and development and construction of new projects. In addition, its capital expenditure budget for its maintenance activity is approximately $5 million for the rest of 2009. The company also expect to invest $6 million in exploration during the rest of 2009.

Ormat Technologies Inc. reported unaudited earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported operating income of $25,961,000, income before income taxes and equity in income of investees of $27,195,000 and net income attributable to company shareholders of $23,526,000 or $0.52 per basic and diluted share on total revenues of $119,828,000 compared to the operating income of $19,126,000, income before income taxes and equity in income of investees of $18,647,000 and net income attributable to company shareholders of $15,911,000 or $0.35 per basic and diluted share on total revenues of $99,726,000 for the same quarter year ago. Adjusted EBITDA was $50,324,000 compared to the $38,471,000 for the same quarter year ago. For the nine months period, the company reported operating income of $61,837,000, income before income taxes and equity in income of investees of $64,737,000 and net income attributable to company shareholders of $54,162,000 or $1.19 per basic and diluted share on total revenues of $319,952,000 compared to the operating income of $45,826,000, income before income taxes and equity in income of investees of $44,451,000 and net income attributable to company shareholders of $38,136,000 or $0.87 per basic and diluted share on total revenues of $249,334,000 for the same period year ago. Adjusted EBITDA was $127,486,000 compared to the $101,830,000 for the same period year ago.

Ormat Technologies Inc., Q3 2009 Earnings Call, Nov-05-2009