Taitron Announces Quarterly Cash Dividend

Rhea-AI Summary

Taitron Components Incorporated (NASDAQ:TAIT) has announced a quarterly cash dividend of $0.04 per share, payable on August 31, 2021, to stockholders of record as of the close of business on August 13, 2021. The company aims for an annual dividend of $0.16, distributed in quarterly installments. Future dividends depend on the Board of Directors' assessment of what is beneficial for stockholders. Taitron, located in Valencia, California, specializes in distributing discrete semiconductors and providing engineering services.

Positive

• Declared a quarterly cash dividend of $0.04 per share.
• Targets an annual dividend of $0.16 per share.
• Consistent quarterly payments enhance shareholder value.

Negative

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

LOS ANGELES, July 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 August 31, 2021 to stockholders of record as of the close of business on August 13, 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 declared by Taitron Components?

Taitron Components declared a dividend of $0.04 per share.

When will the dividend for Taitron Components be paid?

The dividend will be paid on August 31, 2021.

What is the annual dividend target for Taitron Components?

The company targets an annual dividend of $0.16 per share.

Who will receive the dividend payment from Taitron Components?

Stockholders of record as of the close of business on August 13, 2021, will receive the payment.

Can the dividend policy of Taitron Components change?

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