TAIT 8-K
Taitron Components Inc (TAIT)
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 30, 2021
TAITRON COMPONENTS INCORPORATED
(Exact name of registrant as specified in its charter)
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California (State or other jurisdiction of incorporation) |
0-25844 (Commission File Number) |
95-4249240 (I.R.S. Employer Identification No.) |
28040 WEST HARRISON PARKWAY, VALENCIA, CALIFORNIA 91355
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (661) 257-6060
NONE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
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Class A common stock |
TAIT |
NASDAQ Capital Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 7.01 Regulation FD Disclosure
On July 30, 2021, the Company’s Board of Directors authorized a quarterly cash dividend in the amount of $0.04 per share of Class A and Class B issued and outstanding common stock. The dividend will be paid on August 31, 2021 to stockholders of record as of August 13, 2021. A copy of the press release is furnished herewith as Exhibit 99.1. Under our revised dividend policy, the Company will now target a cash dividend to our stockholders in the amount of $0.16 per share per annum, payable in equal $0.04 per share quarterly installments. Subsequent dividend declarations and the establishment of record and payment dates for such future dividend payments, if any, are subject to the Board of Directors' continuing determination that the dividend policy is in the best interests of the Company's stockholders. The dividend policy may be suspended or cancelled at the discretion of the Board of Directors at any time.
Safe Harbor Statement
Statements contained in the exhibit to this report that state the Company’s or its management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. It is important to note that the Company’s actual results could differ materially from those projected in such forward-looking statements. Factors that could affect those results include those mentioned in the documents that the Company has filed with the Securities and Exchange Commission.
ITEM 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Exhibit Description |
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99.1 |
Press release dated July 30, 2021 announcing the Company declared a quarterly cash dividend. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
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TAITRON COMPONENTS INCORPORATED |
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Dated: July 30, 2021 |
By: |
/s/ David Vanderhorst |
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David Vanderhorst |
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Chief Financial Officer |
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Exhibit 99.1
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28040 West Harrison Parkway Valencia, CA 91355-4162 Tel (661) 257 6060 Fax (661) 257 6415 |
FOR IMMEDIATE RELEASE
TAITRON ANNOUNCES QUARTERLY CASH DIVIDEND
LOS ANGELES, California – July 30, 2021 – Taitron Components Incorporated (NASDAQ:TAIT) today announced that its Board of Directors has declared a quarterly cash dividend of $0.04 per share of common stock, payable on August 13, 2021 to stockholders of record as of the close of business on August 31, 2021. Under our revised dividend policy, the Company will now target a cash dividend to our stockholders in the amount of $0.16 per share per annum, payable in equal $0.04 per share quarterly installments.
Subsequent dividend declarations and the establishment of record and payment dates for such future dividend payments, if any, are subject to the Board of Directors' continuing determination that the dividend policy is in the best interests of the Company's stockholders. The dividend policy may be suspended or cancelled at the discretion of the Board of Directors at any time.
About Taitron Components
Taitron, based in Valencia, California, is the “Discrete Components Superstore”. The Company distributes a wide variety of transistors, diodes and other discrete semiconductors, optoelectronic devices and passive components to electronic distributors, contract electronic manufacturers (CEMs) and original equipment manufacturers (OEMs), who incorporate them into their products. In addition, Taitron provides value-added engineering and turn-key services for our existing OEM and CEM customers and providing them with original design and manufacturing services for their multi-year turn-key projects.
Safe Harbor Statement
Statements contained in the exhibit to this report that state the Company’s or its management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. It is important to note that the Company’s actual results could differ materially from those projected in such forward-looking statements. Factors that could affect those results include those mentioned in the documents that the Company has filed with the Securities and Exchange Commission.
CONTACTS:
Taitron Components Incorporated
David Vanderhorst – ph 661-257-6060