CARLSTADT, N.J., Jan. 10, 2011 /PRNewswire/ -- Jinpan International Ltd. (Nasdaq: JST), a leading designer, manufacturer, and distributor of cast resin transformers for voltage distribution equipment, today announced the Company's board of directors declared an annual dividend of $0.14 per common share for the year 2011 to be distributed in two equal payments.
The first payment, in the amount of $0.07 per share, will be payable on February 10, 2011 to shareholders of record at the close of business on January 26, 2011. The second payment will be distributed in the second half of the year.
Mr. Zhuyuan Li, Chief Executive Officer of Jinpan International commented, "We are pleased to continue our annual dividend payment, which demonstrates our confidence in our business. We look forward to strong operational execution in 2011 and continue to evaluate ways to maximize shareholder value."
About Jinpan International Ltd.Jinpan International Ltd. (Nasdaq: JST) designs, manufactures, and markets cast resin transformers for power distribution and wind energy products. Jinpan's cast resin transformers allow high voltage transmissions of electricity to be distributed to various locations in lower, more usable voltages. The Company has obtained ISO9001 and ISO1401 certifications of its cast resin transformers. Its principal executive offices are located in Hainan, China and its U.S. headquarters is based in Carlstadt, New Jersey. Safe Harbor Provision This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and observations and involve known and unknown risks, and uncertainties or other factors not under the Company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors are listed from time-to-time in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 20-F for the period ended December 31, 2009 and our subsequent reports on Form 6-K. Except as required by law, we are not under any obligation, and expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. SOURCE Jinpan International Ltd.