Magic Announces Distribution of Cash Dividend for First Half of 2014
OR YEHUDA, Israel, August 12, 2014
OR YEHUDA, Israel, August 12, 2014 /PRNewswire/ --
Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of software
platforms for enterprise mobility, cloud applications, and business
integration, announced today that in compliance with its dividend distribution
policy its Board of Directors has declared a cash dividend in the amount of US
$0.095 per share and in the aggregate amount of approximately US $4.2million
for the first half of 2014.
The dividend is payable on September 4, 2014 to all of the Company's
shareholders of record at the close of the NASDAQ Global Select Market on
August 19, 2014.
In accordance with Israeli tax law, the dividend is subject to withholding at
source at the rate of 30% (if the recipient of the dividend is at the time of
distribution or was at any time during the preceding 12-month period the
holder of 10% or more of the Company's share capital) or 25% (for all other
dividend recipients) of the dividend amount payable to each shareholder of
record, subject to applicable exemptions.
The dividend will be paid in US dollars on the ordinary shares of Magic
Software Enterprises that are traded on the Tel Aviv Stock Exchange and the
ordinary shares of Magic Software Enterprises that are traded on the NASDAQ
Global Select Market.
About Magic Software Enterprises
Magic Software Enterprises (NASDAQ: MGIC) empowers customers and partners
around the globe with smarter technology that provides a multichannel user
experience of enterprise logic and data.
For more information, visit http://www.magicsoftware.com.
Except for any historical information contained herein, matters discussed in
this press release might include forward-looking statements that involve a
number of risks and uncertainties. Regarding any financial statements, actual
results might vary significantly based upon a number of factors including, but
not limited to, risks in product and technology development, market acceptance
of new products and continuing product conditions, both locally and abroad,
release and sales of new products by strategic resellers and customers, and
other risk factors detailed in Magic's most recent annual report and other
filings with the Securities and Exchange Commission.
Magic has made every effort to ensure that the information contained in this
press release is accurate; however, there are no representations or warranties
regarding this information, including warranties of merchantability or fitness
for a particular purpose. Magic assumes no responsibility for errors or
omissions that may occur in this press release.
Magic is a registered trademark of Magic Software Enterprises Ltd. All other
product and company names mentioned herein are for identification purposes
only and are the property of, and might be trademarks of, their respective
Amit Birk | VP M&A and General Counsel
Magic Software Enterprises
SOURCE Magic Software Enterprises Ltd
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