Taitron Announces Quarterly Cash Dividend

Rhea-AI Summary

Taitron Components Incorporated (NASDAQ:TAIT) declared a quarterly cash dividend of $0.045 per share, payable on August 12, 2022, to stockholders of record as of August 31, 2022. The total targeted annual cash dividend is $0.18 per share, distributed in equal quarterly installments. Future dividend declarations will depend on the Board's assessment of their benefit to stockholders and may be suspended at their discretion. Taitron, based in Valencia, California, specializes in distributing discrete semiconductors and providing engineering services.

Positive

• Declared quarterly cash dividend of $0.045 per share.
• Targeting an annual cash dividend of $0.18 per share.
• Provides value-added engineering and turn-key services.

Negative

• Future dividends are subject to Board's discretion.
• Dividend policy may be suspended or canceled.

LOS ANGELES, July 29, 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 August 12, 2022 to stockholders of record as of the close of business on August 31, 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

When will Taitron pay its next dividend?

Taitron's next dividend of $0.045 per share will be paid on August 12, 2022.

What is Taitron's annual dividend target?

Taitron aims to pay an annual dividend of $0.18 per share.

Are future dividends guaranteed for Taitron?

No, future dividends are subject to the Board's determination and may be suspended or canceled.