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 February 28, 2022, to stockholders of record by February 11, 2022. The company aims to distribute $0.18 per share annually, divided into four equal payments. Future dividends remain contingent on the Board's assessment of the policy's benefit to stockholders. Taitron distributes various electronic components and offers value-added engineering services to original equipment manufacturers and contract electronic manufacturers.

Positive

• Declared a quarterly cash dividend of $0.045 per share.
• Targeting a cash dividend of $0.18 per share annually, indicating potential for consistent income for shareholders.

Negative

• Future dividends may be suspended or canceled at the Board's discretion, introducing uncertainty for shareholders.

LOS ANGELES, Jan. 28, 2022 (GLOBE NEWSWIRE) -- 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 February 28, 2022 to stockholders of record as of the close of business on February 11, 2022. Under our revised dividend policy, the Company will now 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 declared by Taitron Components?

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

When is the dividend payment date for Taitron Components?

The dividend is payable on February 28, 2022.

What is the annual dividend target for Taitron Components?

Taitron aims to distribute a total of $0.18 per share annually.

What are the record date requirements for Taitron's dividend?

Stockholders must be on record by February 11, 2022, to receive the dividend.

Can Taitron suspend its dividend payments?

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