Petah Tikva, ISRAEL, March 18,
2019 /PRNewswire/ -- Gilat Satellite Networks Ltd. (NASDAQ:
GILT) (TASE: GILT), a worldwide leader in satellite networking
technology, solutions and services, announced today that, in line
with its announcement on February 12,
2019, the Board of Directors has declared a cash dividend to
shareholders in the amount of $0.45
per share (approximately $25 million
in the aggregate). The dividend will be paid in US$ on April 11, 2019 to shareholders of record on
March 28, 2019.
In accordance with Israeli tax law, the Company will withhold
25% of the gross amount of the dividend that is paid out to
shareholders. Together with that, the dividend payment may be
subject to certain applicable exemptions (including the exemption
for distribution of dividends to Israeli corporations which are
exempt from Israeli withholding tax) and tax reliefs. Also, a
shareholder who is a resident of a country with which Israel has a tax treaty may be subject to a
different withholding tax rate with respect to the dividend. For
that purpose, the Company has appointed IBI Trust Management as a
paying agent, which will act in accordance with the Israeli Tax
Ordinance. A shareholder who holds his or her shares other than
through an Israeli financial institution and who is subject to a
lower tax rate as a resident of a country with which Israel has a treaty for the avoidance of
double taxation may contact the paying agent to inquire about his
or her eligibility to a lower tax rate. Such shareholder may submit
to the paying agent the documentation as will be specified in the
instructions letter which, following receipt of tax ruling from the
Israeli tax authority, will be posted on the Company's website
under the "Investors Relations" tab. Subject to complying with the
applicable requirements and submitting all the required documents,
the paying agent will transfer the tax amount difference to the
shareholder's bank account in the manner specified in the
instructions letter. The paying agent contact details are
IBI-CM@IBI.co.il, telephone: +972-50-620-9410, 9 He'had Ha'am St.,
Tel-Aviv, Israel.
Gilat also announced that it has filed today its Annual Report
on Form 20-F containing audited consolidated financial statements
for the year ended December 31, 2018
with the U.S. Securities and Exchange Commission.
The annual report will be available on the Gilat website
(www.gilat.com). Shareholders may receive a hard copy of the annual
report free of charge upon request.
About Gilat
Gilat Satellite Networks Ltd. (NASDAQ:
GILT) (TASE: GILT) is a leading global provider of satellite-based
broadband communications. With 30 years of experience, we design
and manufacture cutting-edge ground segment equipment, and provide
comprehensive solutions and end-to-end services, powered by our
innovative technology. Delivering high value competitive solutions,
our portfolio comprises of a cloud based VSAT network platform,
high-speed modems, high performance on-the-move antennas and high
efficiency, high power Solid State Amplifiers (SSPA) and Block
Upconverters (BUC).
Gilat's comprehensive solutions support multiple applications
with a full portfolio of products to address key applications
including broadband access, cellular backhaul, enterprise,
in-flight connectivity, maritime, trains, defense and public
safety, all while meeting the most stringent service level
requirements. Gilat controlling shareholders are the FIMI Private
Equity Funds. For more information, please visit: www.gilat.com
Certain statements made herein that are not historical are
forward-look ng within the meaning of the Private Securities
Litigation Reform Act of 1995. The words "estimate", "project",
"intend", "expect", "believe" and similar expressions are intended
to identify forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties. Many
factors could cause the actual results, performance or achievements
of Gilat to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements, including, among others, changes
in general economic and business conditions, inability to maintain
market acceptance to Gilat's products, inability to timely develop
and introduce new technologies, products and applications, rapid
changes in the market for Gilat's products, loss of market share
and pressure on prices resulting from competition, introduction of
competing products by other companies, inability to manage growth
and expansion, loss of key OEM partners, inability to attract and
retain qualified personnel, inability to protect the Company's
proprietary technology and risks associated with Gilat's
international operations and its location in Israel. We undertake no obligation to update
or revise any forward-looking statements for any reason. For
additional information regarding these and other risks and
uncertainties associated with Gilat's business, reference is made
to Gilat's reports filed from time to time with the Securities and
Exchange Commission.
Contact:
Gilat Satellite Networks
Ofer Perlman
OferP@gilat.com
+972-925-2200
Comm-Partners LLC
June Filingeri, President
+1-203-972-0186
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SOURCE Gilat Satellite Networks