Silicon Motion Confirms Quarterly Dividend
July 27 2020 - 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,
confirms today its quarterly cash dividend.
On October 25, 2019, the Board of Directors of
the Company declared payment of an annual dividend of US$1.40 per
ADS1, equivalent to US$0.35 per ordinary share, which will be paid
in four quarterly installments of $0.35 per ADS, equivalent to
US$0.0875 per ordinary share. According to the previously announced
record and payment dates, the next quarterly installment will be
paid on August 20, 2020 to all shareholders of record on August 6,
2020. Our depository bank’s DR Books will be closed for issuance
and cancellation on August 6, 2020.
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.
1 One ADS is equivalent to four ordinary
shares.
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 storage
products such as SSDs and eMMC+UFS devices, which are found in data
centers, PCs, smartphones, and commercial and industrial
applications. We have shipped over six billion NAND controllers in
the last ten years, more than any other company in the world. We
also supply customized 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;
the effects on our business and our customer’s business taking into
account the ongoing US-China tariffs and trade disputes and recent
global outbreak of COVID-19; decreases in the overall average
selling prices of our products; changes in the relative sales mix
of our products; changes in our cost of finished goods; 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 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; any potential impairment charges that may be incurred
related to businesses previously acquired or divested in the
future; 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 June 12, 2020. We assume no obligation
to update any forward-looking statements, which apply only as of
the date of this press release.
Investor
Contact:
Investor Contact:Christopher
Chaney
Selina HsiehDirector of IR and
Strategy
Investor RelationsE-mail: CChaney@siliconmotion.com
E-mail: ir@siliconmotion.com
Media Contact:Sara HsuProject ManagerE-mail:
sara.hsu@siliconmotion.com
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