| Silicon Motion Announces Annual Cash Dividend Payable Quarterly |
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TAIPEI, Taiwan and MILPITAS, Calif., Oct. 30, 2023 (GLOBE NEWSWIRE) -- 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.
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