Monolithic Power Systems Announces Results of Annual Meeting of Stockholders and Second Quarter Dividend
June 17 2016 - 4:01PM
Monolithic Power Systems (MPS) (Nasdaq:MPWR), a leading company in
high performance power solutions, today announced the final results
of the 2016 Annual Meeting of Stockholders held on June 16, 2016.
The stockholders approved, on an advisory basis, the 2015
compensation of MPS’ executive officers, re-elected three current
directors of MPS, and ratified the appointment of MPS’ independent
auditors for 2016.
The vote in favor of the resolution to approve the
2015 compensation of MPS’ executive officers was 99% of the votes
cast on the resolution, each of the three directors was re-elected
with more than 96% of the votes, and the appointment of MPS’
independent auditors was approved with 98% of the votes.
“On behalf of the Board and management, I sincerely
thank our stockholders for their overwhelming support for our
proposals, including the executive compensation plan,” said Michael
Hsing, CEO and founder of MPS.
Second Quarter Dividend
MPS also announced today its second quarter
dividend of $0.20 per common share to all stockholders of record as
of the close of business on June 30, 2016. The dividend will be
paid on July 15, 2016.
Safe Harbor Statement
This news release includes “forward-looking
statements” intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. These forward-looking statements are based on our current
expectations, estimates and projections about our business and
industry, management's beliefs, and certain assumptions made by us,
all of which are subject to change. Forward-looking statements
can often be identified by words such as “anticipates,” “expects,”
“forecasts,” “intends,” “believes,” “plans,” “may,” “will,” or
“continue,” and similar expressions and variations or negatives of
these words. All such statements are subject to certain risks,
assumptions and uncertainties, including those described in our
most recent Quarterly Report on Form 10-Q and in other documents
that we file or furnish with the Securities and Exchange
Commission. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially and adversely from those
projected, and may affect our future operating
results, financial position and cash flows. Accordingly,
you are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date they
are made. Except to the extent required by law, MPS does not
undertake, and expressly disclaims, any duty or obligation to
update publicly any forward-looking statement after the initial
distribution of this release, whether as a result of new
information, future events, changes in assumptions or
otherwise.
About Monolithic Power Systems,
Inc.
Monolithic Power Systems, Inc. (MPS) provides
small, highly energy efficient, easy-to-use power solutions for
systems found in industrial applications, telecom infrastructures,
cloud computing, automotive, and consumer applications. MPS'
mission is to reduce total energy consumption in its
customers' systems with green, practical, compact solutions. The
company was founded by Michael R. Hsing in 1997 and is
headquartered in San Jose, CA. MPS can be contacted through its
website at www.monolithicpower.com or its support offices
around the world.
Monolithic Power Systems, MPS, and the MPS logo are
registered trademarks of Monolithic Power Systems, Inc. in the U.S.
and trademarked in certain other countries.
Contact:
Bernie Blegen
Interim Chief Financial Officer
Monolithic Power Systems, Inc.
408-826-0777
investors@monolithicpower.com
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