CARLSTADT, N.J., Feb. 26, 2014 /PRNewswire/ -- Jinpan
International Limited (Nasdaq: JST), a leading designer,
manufacturer, and distributor of cast resin transformers, today
announced that its Board of Directors has approved a quarterly cash
dividend of $0.04 per common share
for the year 2014.
The quarterly dividend rate increased 33% from $0.03 per common share in 2013 to $0.04 per common share in 2014 for a new annual
dividend rate of $0.16 per common
share.
Mr. Zhiyuan Li, Chairman of the
Board of Directors and Chief Executive Officer of Jinpan
International Limited, stated, "We have increased the dividend
because of our Board's belief in our long-term outlook for
sustained growth and cash flow. We continue to focus on the
disciplined execution of our growth strategy as we benefit from the
investments we have made over the past several years. Our
objective is to both grow Jinpan and increase return to
investors."
The first quarterly cash dividend of 2014 will be payable
March 28, 2014 to shareholders of
record at the close of business on March
12, 2014.
About Jinpan International Ltd
Jinpan International Limited (NASDAQ: JST) designs,
manufactures, and markets electrical control and distribution
equipment used in demanding industrial applications, utility
projects, renewable energy installations, and infrastructure
projects. Major products include cast resin transformers, VPI
transformers and reactors, switchgears, and unit substations.
Jinpan serves a wide range of customers in China and reaches international markets as a
qualified supplier to leading global industrial electrical
equipment manufacturers. Jinpan's four manufacturing facilities in
China are located in the cities of
Haikou, Wuhan, Shanghai and Guilin. The Company's
manufacturing facilities in China
comprise the largest cast resin transformer production capacity in
that country. The Company was founded in 1993. Its principal
executive offices are located in Haikou, Hainan,
China and its United States
office is based in Carlstadt, New
Jersey. For more information, visit
www.jinpaninternational.com.
Safe Harbor Provision
This press release contains forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on management's current expectations and observations and
involve known and unknown risks, and uncertainties or other factors
not under the Company's control, which may cause actual results,
performance or achievements of the company to be materially
different from the results, performance or other expectations
implied by these forward-looking statements. These factors are
listed from time-to-time in our filings with the Securities and
Exchange Commission, including, without limitation, our Annual
Report on Form 20-F for the period ended December 31, 2012 and our subsequent reports on
Form 6-K.
Except as required by law, we are not under any obligation, and
expressly disclaim any obligation, to update or alter any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Jinpan International Ltd