Taitron Announces Special Cash Dividend and Quarterly Cash Dividend

Rhea-AI Summary

Taitron Components (NASDAQ:TAIT) has declared a one-time special cash dividend of $0.10 per share, alongside its regular quarterly cash dividend of $0.045 per share, totaling $0.145 per share. Payments are scheduled for May 31, 2022 to stockholders on record by May 13, 2022, amounting to approximately $852,000. President Stewart Wang stated that the decision underscores the company’s strong balance sheet while maintaining financial flexibility. The company targets an annual dividend of $0.18 going forward.

Positive

• One-time special cash dividend of $0.10 per share, enhancing shareholder value.
• Continued commitment to quarterly dividend of $0.045 per share.
• Strong balance sheet supports the dividend payments.

Negative

• Future dividend declarations are subject to Board's discretion and could be suspended or canceled.

LOS ANGELES, April 29, 2022 (GLOBE NEWSWIRE) -- Taitron Components Incorporated (NASDAQ:TAIT) announced today that its Board of Directors has declared a one-time special cash dividend of $0.10 per share, in addition to its quarterly cash dividend of $0.045 per share of common stock, both payable on May 31, 2022 to stockholders of record as of the close of business on May 13, 2022. The aggregate payment will be $0.145 per share or approximately $852,000.

Stewart Wang, President, commented: “This one-time special dividend is our reward to shareholders. Our strong balance sheet allows us to pay this one-time special dividend from existing cash balances, while preserving financial and operational flexibility.” Under our current dividend policy, the Company will continue targeting 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 payment amount for Taitron Components?

Taitron Components will pay a total of $0.145 per share, which includes a one-time special dividend of $0.10 and a quarterly dividend of $0.045.

When are the dividends for Taitron Components being paid?

The dividends are scheduled for payment on May 31, 2022.

Who qualifies for the Taitron Components dividend?

Stockholders on record as of May 13, 2022, will qualify for the dividend.

What is Taitron Components' annual dividend policy?

Taitron Components targets an annual cash dividend of $0.18 per share, distributed in quarterly installments of $0.045.

Can Taitron Components change its dividend policy?

Yes, future dividend declarations and the policy may be altered or canceled at the discretion of the Board of Directors.