AudioCodes (NASDAQ: AUDC), a leading vendor of advanced voice networking and media processing 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 11 Cents per share and in the aggregate amount of approximately US $3.2 million. Subject to receipt of any necessary court approvals, the Company expects to declare an additional dividend later in the year. The amount and timing of any additional dividend will be determined by the Board.
The dividend is payable on February 19, 2019 to all of the Company’s shareholders of record at the close of trading on the NASDAQ Global Select Market on February 7, 2019.
In accordance with Israeli tax law, the dividend is subject to withholding tax at source at the rate of 30% (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) or 25% (for all other dividend recipients) of the dividend amount payable to each shareholder of record, subject to applicable exemptions.
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.