TAIT 8-K
Taitron Components Inc (TAIT)
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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ITEM 7.01 Regulation FD Disclosure
On October 27, 2023, the Company’s Board of Directors authorized a quarterly cash dividend in the amount of $0.05 per share of Class A and Class B issued and outstanding common stock. The dividend will be paid on November 30, 2023 to stockholders of record as of November 10, 2023. A copy of the press release is furnished herewith as Exhibit 99.1. Under our current dividend policy, the Company will target a cash dividend to our stockholders in the amount of $0.20 per share per annum, payable in equal $0.05 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
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Exhibit No. |
Exhibit Description |
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99.1 |
Press release dated October 27, 2023 announcing the Company declared a quarterly cash dividend. |
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104 |
Cover Page Interactive Data File (formatted as Inline XBRL) |
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: October 27, 2023 |
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 W. Harrison Pkwy Valencia, CA 91355-4162 Tel: (661) 257-6060 Fax: (661) 257-6415 www.taitroncomponents.com |
FOR IMMEDIATE RELEASE
TAITRON ANNOUNCES QUARTERLY CASH DIVIDEND
LOS ANGELES, California – October 27, 2023 – Taitron Components Incorporated (NASDAQ:TAIT) today announced that its Board of Directors has declared a quarterly cash dividend of $0.05 per share of common stock, payable on November 30, 2023 to stockholders of record as of the close of business on November 10, 2023. Under our current dividend policy, the Company will target a cash dividend to our stockholders in the amount of $0.20 per share per annum, payable in equal $0.05 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