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 on
August 9, 2017, the Company's Board
of Directors decided to amend the Company's dividend distribution
policy announced on September 5, 2012
(TASE reference number: 2012-02-230481).
According to the Company's amended policy, each year the Company
will distribute a dividend of up to 75% of its annual distributable
profits. The Company's Board of Directors may at its discretion and
at any time, change, whether as a result of a one-time decision or
a change in policy, the rate of dividend distributions and/or
decide not to distribute a dividend, all at its discretion.
The actual distribution of a dividend will be subject to meeting
the conditions required by applicable law, including the
distribution tests set forth in Section 302 of the Israeli
Companies Law - 1999, and to the specific decision of the Company's
Board of Directors for each distribution.
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