CORRECTION -- Taitron Announces Quarterly Cash Dividend

Rhea-AI Summary

Taitron Components Incorporated (NASDAQ:TAIT) has declared a quarterly cash dividend of $0.045 per share, payable on August 31, 2022, to stockholders of record by the close of business on August 12, 2022. This aligns with their annual cash dividend target of $0.18, distributed in quarterly installments. Future dividend payments will depend on the Board of Directors' assessment of the policy's benefits to stockholders. Taitron specializes in distributing discrete semiconductors and offers engineering services to OEMs and CEMs.

Positive

• Quarterly dividend of $0.045 per share enhances shareholder returns.
• Target annual dividend of $0.18 shows company confidence in financial stability.

Negative

• Dividend policy may be suspended or cancelled at the Board's discretion.

LOS ANGELES, July 29, 2022 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Taitron Components Incorporated (NASDAQ:TAIT), please note the payable and records dates were switched and corrected in the first paragraph. The corrected release follows:

Taitron Components Incorporated (NASDAQ:TAIT) today announced that its Board of Directors has declared a quarterly cash dividend of $0.045 per share of common stock, payable on August 31, 2022 to stockholders of record as of the close of business on August 12, 2022. Under our current dividend policy, the Company will target a cash dividend to our stockholders in the amount of $0.18 per share per annum, payable in equal $0.045 per share quarterly installments.

Subsequent dividend declarations and the establishment of record and payment dates for such future dividend payments, if any, are subject to the Board of Directors' continuing determination that the dividend policy is in the best interests of the Company's stockholders. The dividend policy may be suspended or cancelled at the discretion of the Board of Directors at any time.

About Taitron Components

Taitron, based in Valencia, California, is the “Discrete Components Superstore”. The Company distributes a wide variety of transistors, diodes and other discrete semiconductors, optoelectronic devices and passive components to electronic distributors, contract electronic manufacturers (CEMs) and original equipment manufacturers (OEMs), who incorporate them into their products. In addition, Taitron provides value-added engineering and turn-key services for our existing OEM and CEM customers and providing them with original design and manufacturing services for their multi-year turn-key projects.

Safe Harbor Statement

Statements contained in the exhibit to this report that state the Company’s or its management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. It is important to note that the Company’s actual results could differ materially from those projected in such forward-looking statements. Factors that could affect those results include those mentioned in the documents that the Company has filed with the Securities and Exchange Commission.

CONTACTS:

Taitron Components Incorporated

David Vanderhorst – ph 661-257-6060

FAQ

What is the dividend amount for Taitron Components in 2022?

Taitron Components has declared a quarterly cash dividend of $0.045 per share.

When will Taitron Components' dividend be paid?

The dividend will be payable on August 31, 2022.

What is the record date for Taitron's dividend?

The record date for the dividend is August 12, 2022.

What is the annual dividend target for Taitron Components?

Taitron targets an annual cash dividend of $0.18 per share.

Can the dividend policy of Taitron be changed?

Yes, the Board of Directors can suspend or cancel the dividend policy at their discretion.