OR YEHUDA, Israel, August 12, 2013 /PRNewswire/ --
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 $0.09 per share and in the aggregate amount of approximately US $3.4 million for the first half of 2013.
The dividend is payable September 3, 2013 to all of the Company's shareholders of record at the close of the NASDAQ Global Select Market on August 21, 2013.
In accordance with Israeli tax law, the dividend is subject to withholding 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 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. About Magic Software Enterprises Magic Software Enterprises (NASDAQ: MGIC) empowers customers and partners around the globe with smarter technology that provides a multichannel user experience of enterprise logic and data. For more information, visit http://www.magicsoftware.com. Except for any historical information contained herein, matters discussed in this press release might include forward-looking statements that involve a number of risks and uncertainties. Regarding any financial statements, actual results might vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both locally and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in Magic's most recent annual report and other filings with the Securities and Exchange Commission.