Silicon Motion Announces Annual Cash Dividend Payable Quarterly
October 26 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,
announces today an annual cash dividend of $1.40 per ADS.
The Board of Directors of the Company has declared an annual
dividend of $1.40 per ADS1,2 which will be paid in four quarterly
installments of $0.35 per ADS3 according to the following
anticipated record and payment dates:
Record Date |
Payment Date |
November 12, 2020 |
November 25, 2020 |
February 16, 2021 |
February 26, 2021 |
May 6, 2021 |
May 20, 2021 |
August 5, 2021 |
August 19, 2021 |
The Company’s depository bank’s DR books will be closed for
issuance and cancellation on each of the record dates.
“We remain optimistic about our business outlook, solid ability
to generate free cash flow and focus in distributing a meaningful
portion of this to our shareholders as dividend,” said Wallace Kou,
President and CEO of Silicon Motion.
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 is subject to the
Board's continuing determination that the payment of dividends is
in the best interests of the Company’s shareholders and is 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.2 $1.40 per ADS
is equivalent to $0.35 per ordinary share.3 $0.35 per ADS is
equivalent to $0.0875 per ordinary share.
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 together with any
uncertainties associated with the ongoing 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: |
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Investor
Contact: |
Christopher Chaney |
|
Selina Hsieh |
Director of Investor Relations & Strategy |
|
Investor Relations |
E-mail: CChaney@siliconmotion.com |
|
E-mail: ir@siliconmotion.com |
|
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Media Contact: |
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Sara Hsu |
|
|
Project Manager |
|
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E-mail: sara.hsu@siliconmotion.com |
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