OR YEHUDA, Israel, August 13, 2017 /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 semi-annual cash dividend in the amount of
US $0.13 per share and in the
aggregate amount of approximately US $5.9 million for the first half of 2017,
reflecting 75% of its distributable profits.
The dividend is payable on September 13,
2017 to all of the Company's shareholders of record at the
close of the NASDAQ Global Select Market on August 29, 2017.
In accordance with Israeli tax law, the dividend is subject to
withholding tax 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 both on the Tel Aviv
Stock Exchange and 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 owners.
Press Contact:
Amit Birk | VP M&A and General
Counsel
Magic Software Enterprises
abirk@magicsoftware.com
SOURCE Magic Software Enterprises Ltd