Taitron Announces Quarterly Cash Dividend Increase of 12.5%

Rhea-AI Summary

Taitron Components (NASDAQ:TAIT) announced a quarterly cash dividend of $0.045 per share, payable on November 30, 2021. This marks a 12.5% increase from the previous dividend of $0.04. The total annual dividend is now targeted at $0.18 per share, distributed in quarterly installments of $0.045. Stockholders of record as of November 12, 2021 will be eligible for this dividend. Future dividends are subject to the Board's discretion based on the best interests of shareholders.

Positive

• Quarterly cash dividend increased by 12.5% from $0.04 to $0.045 per share.
• Targeted annual dividend is now $0.18 per share, enhancing returns for shareholders.

Negative

• Future dividends may be suspended or canceled at the Board's discretion.

LOS ANGELES, Oct. 29, 2021 (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 November 30, 2021 to stockholders of record as of the close of business on November 12, 2021. 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. This effectively increases by 12.5% our quarterly cash dividends from $0.04 per share to $0.045 per share.

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 payment date is November 30, 2021.

What is the annual dividend target for Taitron Components?

The annual dividend target for Taitron Components is $0.18 per share.

Who is eligible for the Taitron dividend?

Stockholders of record as of November 12, 2021, are eligible for the dividend.

Can Taitron Components suspend its dividend payments?

Yes, the Board of Directors has the discretion to suspend or cancel dividend payments.