Israeli holding company Koor Industries Ltd. (KOR.TV) said Sunday that it will receive a dividend of 190 million shekels ($51.5 million) from Credit Suisse Group (CS).

Koor holds a 3.24% stake in Credit Suisse, which recently reported fourth-quarter net profit of $876.5 million, up about 10% on the year.

Koor has been buying and selling shares in Credit Suisse, a Swiss banking corporation, since 2008.

At 1230 GMT, shares of Koor were up ILS0.09, or 0.10%, at ILS90.39, in a higher Tel Aviv market.

-By Sara Toth Stub, contributing to Dow Jones Newswires; saratoth@gmail.com