Sapiens Announces a Cash Dividend of $0.22 Per Share and $11 Million in Total
HOLON,
The prospective dividend is subject to withholding tax at source, under the Israeli Tax law, at the rate of 25% of the dividend amount payable to each shareholder of record.
Concurrently with its declaration of this dividend, Sapiens has adopted a dividend policy, under which, each year, after publishing the annual audited financial report on form 20F, it will announce a distribution of dividends of up to 40% of its annual net profit (Non-GAAP). Sapiens' board of directors may change, whether as a result of a one-time decision or a change in policy, the rate of dividend distributions and/or decide not to distribute a dividend. The distribution of dividends shall be made in compliance with applicable law and regulations, as well as Sapiens' contractual obligations.
"Sapiens has demonstrated significant growth over the past few years, together with an improvement in profitability," said
"With revenue growth and an improvement in our operating margin, Sapiens is once again able to pay a dividend to our shareholders in a total amounts of approximately
"Sapiens will continue to execute on our strategy of increasing our top-line growth, as well as our profitability. I would like to take this opportunity to thank our shareholders, customers, partners and employees for their continued loyalty and support."
About SapiensĀ
With more than 35 years of experience delivering to over 450 organizations globally, Sapiens has a proven ability to satisfy customers' core, data and digital requirements. For more information:Ā www.sapiens.com.
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