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Ituran Location And Control Ltd Announces Distribution of a Dividend
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AZOUR, Israel, May 25, 2021 /PRNewswire/ Ituran Location and Control Ltd. (NASDAQ: ITRN) announced that the Board of Directors approved the distribution of a cash dividend in the amount of $0.14 per share, totaling approximately US$3 million. The dividend will be paid to shareholders of record as of June 29, 2021. The Company will pay the dividend out on July 14, 2021 net of taxes at the rate of 25%.
In its decision to approve the distribution of the cash dividend, the Board of Directors examined whether the Company meets the distribution criteria according to Israeli law. The Board of Directors concluded that the abovementioned distribution will not undermine the Company s ability to keep performing in its current course of business or future plans, and is able to meet its undertakings when due.