Silicon Motion Announces Annual Dividend Payable Quarterly
November 02 2015 - 8:00AM
Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon
Motion” or the “Company”), a global leader in NAND flash
controllers for solid state storage devices and specialty RF IC
solutions for mobile devices, announces today its annual cash
dividend to be paid in quarterly installments.
The Board of Directors of the Company has declared the payment
of an annual dividend of US$0.60 per ADS1, equivalent to US$0.15
per ordinary share, which will be paid in four quarterly
installments of $0.15 per ADS, equivalent to US$0.0375 per ordinary
share, according to the following anticipated record and payment
dates:
Record Date |
Payment Date |
November 9, 2015
|
November 20, 20152 |
February 17, 2016 |
February 26, 2016 |
May 9, 2016 |
May 19, 2016 |
August 5, 2016 |
August 17, 2016 |
|
|
The Company’s depository bank’s DR Books will be closed for
issuance and cancellation on each of the record dates.
“We are proud of our track record in generating positive returns
for our shareholders, which includes over almost the last three
years, the payment of a quarterly dividend payment,” said Wallace
Kou, President and CEO of Silicon Motion. “Our business has
been growing rapidly and generates a fairly stable stream of free
cash flow and we believe these trends will continue.”
The payment of the annual dividend to be paid in quarterly
installments will be made according to the anticipated record and
payment dates unless subsequently changed by the Board. The
declaration and payment of future cash dividends are subject to the
Board's continuing determination that the payment of dividends are
in the best interests of the Company’s shareholders and are in
compliance with all laws and agreements of the Company applicable
to the declaration and payment of cash dividends.
_____________________
1 One ADS is equivalent to four ordinary shares.
2 The Company announced on October 23 its quarterly
dividend installment to be paid on November 20.
About Silicon Motion:
We are a fabless semiconductor company that designs, develops
and markets solutions for mobile storage and mobile communications
markets. For the mobile storage market, our key products are
microcontrollers used in embedded storage devices such as SSDs and
eMMCs and in expandable storage devices. For the mobile
communications market, our key products are LTE transceivers and
mobile TV IC solutions. Our products are widely used in
smartphones, tablets, and industrial, enterprise and commercial
applications. For further information on Silicon Motion,
visit www.siliconmotion.com.
Forward-Looking Statements:
This press release contains "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. In some cases, you can identify
forward-looking statements by terminology such as "may," "will,"
"should," "expect," "intend," "plan," "anticipate," "believe,"
"estimate," "predict," "potential," "continue," or the negative of
these terms or other comparable terminology. Although such
statements are based on our own information and information from
other sources we believe to be reliable, you should not place undue
reliance on them. These statements involve risks and uncertainties,
and actual market trends or our actual results of operations,
financial condition or business prospects may differ materially
from those expressed or implied in these forward looking statements
for a variety of reasons. Potential risks and uncertainties
include, but are not limited to the unpredictable volume and timing
of customer orders, which are not fixed by contract but vary on a
purchase order basis; the loss of one or more key customers or the
significant reduction, postponement, rescheduling or cancellation
of orders from these customers; general economic conditions or
conditions in the semiconductor or consumer electronics markets;
decreases in the overall average selling prices of our products;
the payment or non-payment of cash dividends in the future at the
discretion of our board of directors; changes in the relative sales
mix of our products; our ability to successfully integrate Shannon
Systems; changes in our cost of finished goods; the availability,
pricing, and timeliness of delivery of other components and raw
materials used in our customers' products; our customers' sales
outlook, purchasing patterns, and inventory adjustments based on
consumer demands and general economic conditions its customers and
consumers; our ability to successfully develop, introduce, and sell
new or enhanced products in a timely manner; and the timing of new
product announcements or introductions by us or by our competitors.
For additional discussion of these risks and uncertainties and
other factors, please see the documents we file from time to time
with the Securities and Exchange Commission, including our Annual
Report on Form 20-F filed on April 30, 2015. We assume no
obligation to update any forward-looking statements, which apply
only as of the date of this press release.
Investor Contact:
Jason Tsai
Director of IR and Strategy
Tel: +1 408 519 7259
Fax: +1 408 519 7101
E-mail: jtsai@siliconmotion.com
Investor Contact:
Selina Hsieh
Investor Relations
Tel: +886 3 552 6888 x2311
Fax: +886 3 560 0336
E-mail: ir@siliconmotion.com
Media Contact:
Sara Hsu
Project Manager
Tel: +886 2 2219 6688 x3509
Fax: +886 2 2219 6868
E-mail: sara.hsu@siliconmotion.com
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