| NOTE 20:- | EQUITY |
The composition of the Company’s share capital is as follows:
| December 31, 2016 | December 31, 2017 | ||||||||||||||||||||||||
| Authorized | Issued | Outstanding | Authorized | Issued | Outstanding | ||||||||||||||||||||
| Ordinary shares, NIS 1 par value each | 25,000,000 | 15,297,402 | 14,728,782 | 25,000,000 | 15,307,402 | 14,738,782 | |||||||||||||||||||
| a. | Formula’s Ordinary Shares, par value NIS 1 per share, are traded on the TASE and Formula’s ADSs, each representing one ordinary share, are traded on the NASDAQ. | |
| b. | Formula holds 568,620 of its ordinary shares. | |
| c. | In January 2016, Formula declared a cash dividend of approximately $5,008 (or $0.34 per share) to shareholders of record on January 20, 2016 that was paid on February 4, 2016. | |
| d. | In June 2016, Formula declared a cash dividend of approximately $5,008 (or $0.34 per share) to shareholders of record on July 13, 2016 that was paid on July 28, 2016. | |
| e. | In December 2016, Formula declared a cash dividend of approximately $7,070 (or $0.48 per share) to shareholders of record on December 30, 2016 that was paid on January 12, 2017. | |
| f. | In September 2017, Formula declared a cash dividend of approximately $5,011 million (or $0.34 per share) to shareholders of record on October 17, 2017 that was paid on November 2, 2017. | |
| g. | For information concerning Formula’s employees and officers share-based plans, see Note 17. |