Silicon Motion Announces Annual Cash Dividend Payable Quarterly
October 30 2023 - 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.
The Board of Directors of the Company has declared an annual
dividend of $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 16, 2023 |
November 30, 2023 |
|
February 20, 2024 |
March 1, 2024 |
|
May 9, 2024 |
May 23, 2024 |
|
August 8, 2024 |
August 22, 2024 |
The Company’s depository bank’s DR books will be closed for
issuance and cancellation on each of the record dates.
“Silicon Motion has had a long history of returning cash to
shareholders through our dividend program. Our business continues
to generate strong cash flow and we believe that we are well
positioned to drive long-term growth of our business and improve
profitability. While the dividend program was halted in 2022 due to
the proposed acquisition by MaxLinear, our Board has decided to
reinstate our annual cash dividend payments now that we have
terminated the transaction,” 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 impact of inflation on our
business and customer’s businesses and any effect this has on
economic activity in the markets in which we operate; 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 any future outbreaks
of COVID-19, including, but not limited to, the emergence
of variants to the original COVID-19 strain; the recent
increases in tensions between Taiwan and China including enhanced
military activities; 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; supply chain
disruptions that have affected us and our industry as well as other
industries on a global basis; 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 April 28, 2023. 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: |
Jason Tsai |
Selina Hsieh |
Vice President of IR & Finance |
Investor Relations |
E-mail: jtsai@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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