Silicon Motion Announces Annual Cash Dividend
October 29 2018 - 8:00AM
Silicon Motion Technology Corporation (NasdaqGS: SIMO)(“Silicon
Motion” or the “Company”), a global leader in designing and
marketing NAND flash controllers for solid state storage devices,
announces today its annual cash dividend of $1.20 per ADS, which
will be paid in four quarterly installments of $0.30 per ADS,
unchanged from last year.
“While the Company’s profitability, cash flow and long-term
outlook continues to be strong, the Board has decided to maintain
the same annual dividend as last year given the current volatile
global economic conditions and uncertainty,” said Wallace Kou,
President and CEO of Silicon Motion. “The Board will revisit our
annual dividend in January 2019, in conjunction with the timing of
our annual operational planning to better align decisions about our
dividend with business, earnings and cash flow goals and
objectives.”
The annual dividend payment of $1.20 per ADS1,2 will be
paid in four quarterly installments of $0.30 per ADS3 according to
the following anticipated record and payment dates:
Record Date |
Payment Date |
November 9, 2018 |
November 23, 2018 |
February 15, 2019 |
February 27, 2019 |
May 9, 2019 |
May 23, 2019 |
August 8, 2019 |
August 22, 2019 |
1 One ADS is equivalent to four ordinary shares.2 $1.20 per ADS
is equivalent to $0.30 per ordinary share.3 $0.30 per ADS is
equivalent to $0.075 per ordinary share.
The Company’s depository bank’s DR books will be closed for
issuance and cancellation on each of the record dates.
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.
ABOUT SILICON MOTION:We are the global leader
in supplying NAND flash controllers for solid state storage devices
and the merchant leader in supplying SSD controllers. We have the
broadest portfolio of controller technologies and our controllers
are widely used in embedded storage products such as SSDs and
eMMCs/UFS, which are found in smartphones, PCs, commercial and
industrial applications. We ship over 750 million NAND controllers
annually and have shipped over five billion NAND controllers in the
last ten years, more than any other company in the world. We also
supply specialized high-performance hyperscale data center and
industrial SSD solutions. Our customers include most of the NAND
flash vendors, storage device module makers, and leading OEMs. For
further information on Silicon Motion, visit us at
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 and any announced planned increases in such
dividends; changes in the relative sales mix of our products;
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, 2018. We assume no
obligation to update any forward-looking statements, which apply
only as of the date of this press release.
Investor
Contacts: |
|
Jason Tsai |
Selina Hsieh |
Senior Director of IR
and Strategy |
Investor Relations |
E-mail:
ir@siliconmotion.com |
E-mail:
ir@siliconmotion.com |
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