Lod, Israel –August 5, 2020 - AudioCodes (NASDAQ: AUDC) Press Release
AudioCodes, a leading vendor of advanced communications software, products and productivity solutions for the digital workplace, today announced that its Board of Directors has decided on a semi-annual dividend. The Board of Directors declared a cash dividend in the amount of 14 cents per share. The aggregate amount of the dividend is approximately US$4.6 million. The amount and timing of any other dividends will be determined by the Board.
The dividend is payable on September 1, 2020 to all of the Company’s shareholders of record at the close of trading on the NASDAQ Global Select Market on August 17, 2020.
In accordance with Israeli tax law, the dividend is subject to a withholding tax at the source at the rate of 25% of the dividend amount payable to each shareholder of record, subject to applicable exemptions. If the recipient of the dividend is at the time of distribution or was at any time during the preceding 12-month period the holder of 10% or more of the Company's share capital, the withholding rate is 30%. The dividend will be paid in US dollars on the ordinary shares of AudioCodes Ltd. that are traded on the Nasdaq Global Select Market or the Tel-Aviv Stock Exchange.
The Board of Directors decision follows receipt by the Company of Israeli court approval to declare one or more dividends in the aggregate amount of up to $10 million at any time through February 3, 2021.