Silicon Motion Announces Annual Dividend Increase
October 25 2021 - 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 $2.00 per ADS, a 43%
increase from the $1.40 per ADS declared in 2020.
Following two years of strong financial performance, the Board
has decided to increase its annual dividend payment to $2.00 per
ADS1,2 which will be paid in four quarterly installments of $0.50
per ADS3 according to the following anticipated record and payment
dates:
Record Date |
Payment Date |
November 10, 2021 |
November 24, 2021 |
February 14, 2022 |
February 25, 2022 |
May 12, 2022 |
May 26, 2022 |
August 11, 2022 |
August 25, 2022 |
The Company’s depository bank’s DR books will be closed for
issuance and cancellation on each of the record dates.
“Since we have significantly increased our revenue and cash flow
generation and our business outlook continues to remain favorable,
our Board has decided to increase our annual 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.
ABOUT SILICON MOTION:
We are the global leader in supplying NAND flash
controllers for solid state storage devices. We supply more
SSD controllers than any other company in the world for servers,
PCs and other client devices and are the leading merchant supplier
of eMMC and UFS embedded storage controllers used in smartphones,
IoT devices and other applications. We also supply customized
high-performance hyperscale data center and specialized industrial
and automotive 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 one or
more 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 the
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 the products we sell given the current raw material supply
shortages being experienced in our industry; 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 May 12, 2021. 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 Hsieh |
Director of IR and Strategy |
Investor Relations |
E-mail: CChaney@siliconmotion.com |
E-mail: ir@siliconmotion.com |
|
|
Media Contact: |
|
Sara Hsu |
|
Project Manager |
|
E-mail: sara.hsu@siliconmotion.com |
|
___________________________________________________
1 One ADS is equivalent to four ordinary shares.2 $2.00 per ADS
is equivalent to $0.50 per ordinary share.3 $0.50 per ADS is
equivalent to $0.125 per ordinary share.
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