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Stock impact report

ITURAN LOCATION AND CONTROL LTD ANNOUNCES DISTRIBUTION OF A $3 MILLION DIVIDEND

Ituran Location and Control Ltd. - Ordinary Shares (ITRN) 
Last ituran location and control ltd. - ordinary shares earnings: 3/4 06:30 am Check Earnings Report
Company Research Source: PR Newswire
AZOUR, Israel, May 24, 2022 /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, 2022. The Company will pay the dividend out on July 14, 2022 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.Retained earnings as of March 31, 2022, prior to the distribution was US$149.1 million and retained earnings will reach US$146.1 million after the distribution. The Board of Directors emphas Show less Read more
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