Taitron Announces Quarterly Cash Dividend

Rhea-AI Summary

Taitron Components (NASDAQ:TAIT) has declared a quarterly cash dividend of $0.04 per share, which will be payable on May 28, 2021 to stockholders on record by May 14, 2021. This is part of the company's revised dividend policy targeting an annual cash dividend of $0.16 per share, distributed in quarterly installments. Future dividend payments are contingent upon the Board's assessment of the policy's benefit to stockholders and can be suspended or canceled at any time.

Positive

• Quarterly cash dividend of $0.04 per share announced.
• Annual cash dividend target set at $0.16 per share.

Negative

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

LOS ANGELES, April 30, 2021 (GLOBE NEWSWIRE) -- Taitron Components Incorporated (NASDAQ:TAIT) today announced that its Board of Directors has declared a quarterly cash dividend of $0.04 per share of common stock, payable on May 28, 2021 to stockholders of record as of the close of business on May 14, 2021. Under our revised dividend policy, the Company will now target a cash dividend to our stockholders in the amount of $0.16 per share per annum, payable in equal $0.04 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 TAIT?

Taitron Components has declared a dividend of $0.04 per share.

When is the dividend payment date for TAIT?

The dividend will be paid on May 28, 2021.

What is the annual dividend target for TAIT?

The annual dividend target is $0.16 per share.

What are the record dates for the TAIT dividend?

Stockholders of record must be on record by May 14, 2021.

Can the dividend policy for TAIT be changed?

Yes, the Board may suspend or cancel the dividend policy at any time.