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TheStreet Open House

Magic Distributes Dividend To Shareholders For First Half Of 2012

Stocks in this article: MGIC

OR YEHUDA, Israel, September 10, 2012 /PRNewswire/ --

In the news release, "Magic Distributes Dividend to Shareholders for First Half of 2012" issued on 10 Sep 2012 07:40 GMT, by Magic Software Enterprises Ltd NASDAQ:MGIC over PR Newswire, we are advised by a representative of the company that the fourth paragraph should state the figure 25%, not 20% as originally issued. Complete, corrected release follows:

Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of software platforms for enterprise mobility, cloud applications, and business integration, announced today that its Board of Directors has declared a cash dividend in the amount of US $0.10 per share and in the aggregate amount of approximately US $3.7 million for the first half of 2012.

The dividend is payable October 17, 2012 to all of the Company's shareholders of record at the close of the NASDAQ Global Select Market on October 2, 2012.

"Following the decision to implement a dividend policy, I am happy to announce this $0.10 per share cash dividend distribution," stated Guy Bernstein, CEO of Magic. "I am confident that Magic is well-positioned to continue to execute its growth strategy through sales of our high-demand advanced technology, including enterprise mobility, and to increase the value for our shareholders, today and in the future."

In accordance with Israeli tax law, the Company will deduct 25% of the dividend amount payable to each shareholder, subject to applicable exemptions.

The dividend will be paid in US dollars on the ordinary shares of Magic Software Enterprises that are traded on the Tel Aviv Stock Exchange, and in US dollars on the ordinary shares of Magic Software Enterprises that are traded on the NASDAQ Global Select Market.

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