HOLON, Israel, April 21, 2015 /PRNewswire/ --
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, with an emerging focus on the broader financial services
sector, announced today that its Board of Directors has approved
the distribution of a cash dividend of $0.15 per share. The dividend, which is
approximately $7.2 million in the
aggregate, will be distributed on Monday,
June 1, 2015 to its shareholders of record as of
Thursday, May 21, 2015. The payment
of the dividend is subject to shareholders' prior approval, which
Sapiens intends to seek at the Company's 2015 annual general
shareholders meeting.
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Sapiens' general meeting of shareholders is scheduled to be held
on Wednesday, May 20, 2015, and
Sapiens Board of Directors will recommend that the Company's
shareholders approve the distribution of the dividend. The record
date for shareholders entitled to vote at the annual shareholder
meeting will be April 22, 2015.
"Sapiens demonstrated significant organic growth over the past
few years in all areas of our business across geographies, from
both existing and new customers," said Roni
Al-Dor, president and CEO of Sapiens. "We consistently grew
our revenues and invested in R&D to ensure that our software
solutions continue to lead the market. In 2014, we expanded our
sales team to answer the growing demand for our solutions."
"Our strong cash position and positive cash flow generation,
with zero debt, together with continued growth and improved
profitability enable us to pursue and execute our merger and
acquisition strategy and distribute dividend to our
shareholders."
Roni Al-Dor continued, "I would
like to thank our shareholders, customers, partners and employees
for their continued loyalty and support."
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a
leading global provider of software solutions for the insurance
industry, with an emerging focus on the broader financial services
sector. Sapiens offers core, end-to-end solutions to the global
general insurance, property and casualty, life, pension and
annuities, reinsurance and retirement markets, as well as business
decision management software. The company has a track record of
over 30 years in delivering superior software solutions to more
than 130 financial services organizations. The Sapiens team of
approximately 1,000 professionals operates through our fully-owned
subsidiaries in North America, the
United Kingdom, EMEA and
Asia Pacific. For more
information: http://www.sapiens.com.
Forward Looking Statements
Some of the statements in this press release may constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities and
Exchange Act of 1934 and the United States Private Securities
Litigation Reform Act of 1995. Words such as "will," "expects,"
"believes" and similar expressions are used to identify these
forward-looking statements (although not all forward-looking
statements include such words). These forward-looking statements,
which may include, without limitation, projections regarding our
future performance and financial condition, are made on the basis
of management's current views and assumptions with respect to
future events. Any forward-looking statement is not a guarantee of
future performance and actual results could differ materially from
those contained in the forward-looking statement. These statements
speak only as of the date they were made, and we undertake no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
We operate in a changing environment. New risks emerge from time to
time and it is not possible for us to predict all risks that may
affect us. For more information regarding these risks and
uncertainties as well as certain additional risks that we face, you
should refer to the Risk Factors detailed in Item 3 of our Annual
Report on Form 20-F for the year ended December 31, 2014 and subsequent reports and
registration statements filed from time to time with the Securities
and Exchange Commission.
Investor and Media Contact:
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Corporate Communications
Sapiens International
Phone: +972-3-790-2026
U.S. Mobile: +1-201-250-9414
Email: yaffa.cohen-ifrah@sapiens.com
SOURCE Sapiens International Corporation