AudioCodes Declares Semi-Annual Dividend of 16 Cents per Share

Rhea-AI Summary

AudioCodes (NASDAQ: AUDC) announced a semi-annual cash dividend of 16 cents per share, totaling approximately US$ 5.3 million. The dividend is payable on March 4, 2021 to shareholders of record as of February 18, 2021. Dividends are subject to a withholding tax of 30% for certain shareholders and 25% for others, in accordance with Israeli tax law. Future dividends will be determined by the Board of Directors.

Positive

• Declared a semi-annual dividend of 16 cents per share, demonstrating confidence in financial health and providing income to shareholders.

Negative

• Dividend subject to withholding tax, which could reduce net returns for some shareholders.

LOD, Israel, Feb. 4, 2021 /PRNewswire/ -- AudioCodes (NASDAQ: AUDC), a leading vendor of advanced communications software, products and productivity solutions for the digital workplace, today announced that its Board of Directors has decided on a semi-annual dividend. The Board of Directors declared a cash dividend in the amount of 16 Cents per share and in the aggregate amount of approximately US$ 5.3 million. The amount and timing of any additional dividend will be determined by the Board.

The dividend is payable on March 4, 2021 to all of the Company's shareholders of record at the close of trading on the NASDAQ Global Select Market on February 18, 2021. 

In accordance with Israeli tax law, the dividend is subject to withholding tax at source at the rate of 30% (if the recipient of the dividend is at the time of distribution or was at any time during the preceding 12-month period the holder of 10% or more of the Company's share capital) or 25% (for all other dividend recipients) of the dividend amount payable to each shareholder of record, subject to applicable exemptions.

The dividend will be paid in US dollars on the ordinary shares of AudioCodes Ltd. that are traded on the Nasdaq Global Select Market or the Tel-Aviv Stock Exchange.  

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About AudioCodes

AudioCodes Ltd. (NASDAQ, TASE: AUDC) is a leading vendor of advanced communications software, products and productivity solutions for the digital workplace. AudioCodes enables enterprises and service providers to build and operate all-IP voice networks for unified communications, contact centers, and hosted business services. AudioCodes offers a broad range of innovative products, solutions and services that are used by large multi-national enterprises and leading tier-1 operators around the world.

For more information on AudioCodes, visit http://www.audiocodes.com.

Statements concerning AudioCodes' business outlook or future economic performance; product introductions and plans and objectives related thereto; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements'' as that term is defined under U.S. Federal securities laws. Forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, but are not limited to: the effect of global economic conditions in general and conditions in AudioCodes' industry and target markets in particular; shifts in supply and demand; market acceptance of new products and the demand for existing products; the impact of competitive products and pricing on AudioCodes' and its customers' products and markets; timely product and technology development, upgrades and the ability to manage changes in market conditions as needed; possible need for additional financing; the ability to satisfy covenants in the Company's loan agreements; possible disruptions from acquisitions; the ability of AudioCodes to successfully integrate the products and operations of acquired companies into AudioCodes' business; and other factors detailed in AudioCodes' filings with the U.S. Securities and Exchange Commission. AudioCodes assumes no obligation to update the information in this release.

©2021 AudioCodes Ltd. All rights reserved. AudioCodes, AC, HD VoIP, HD VoIP Sounds Better, IPmedia, Mediant, MediaPack, What's Inside Matters, OSN, SmartTAP, User Management Pack, VMAS, VoIPerfect, VoIPerfectHD, Your Gateway To VoIP, 3GX, VocaNom, AudioCodes One Voice, AudioCodes Meeting Insights, AudioCodes Room Experience and CloudBond are trademarks or registered trademarks of AudioCodes Limited. All other products or trademarks are property of their respective owners. Product specifications are subject to change without notice.

Company Contacts
Niran Baruch,
VP Finance & Chief Financial Officer
AudioCodes
Tel: +972-3-976-4000
Niran.baruch@audiocodes.com  

Shirley Nakar,
Director, Investor Relations
AudioCodes
Tel: +972-3-976-4000
shirley@audiocodes.com  

IR Agency Contact
Brett Maas, Managing Partner
Hayden IR
Tel: +1-646-536-7331
Brett@haydenir.com  

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SOURCE AudioCodes

FAQ

What is the amount of the dividend declared by AudioCodes?

AudioCodes declared a cash dividend of 16 cents per share.

When is the dividend payable?

The dividend is payable on March 4, 2021.

What is the record date for the dividend?

The record date for the dividend is February 18, 2021.

What are the withholding tax rates on the dividend for shareholders?

The withholding tax is 30% for shareholders holding 10% or more of the company's shares and 25% for others.

How much is the total dividend amount declared by AudioCodes?

The total dividend amount declared is approximately US$ 5.3 million.