|[January 14, 2013]
Silicom Announces Dividend Distribution Policy
KFAR SAVA, Israel --(Business Wire)--
Silicom Ltd. (News - Alert) (NASDAQ:SILC) (TASE:SILC) today announced that its
Board of Directors has adopted a policy for distributing dividends,
subject to all applicable laws. According to this policy, each year the
Company will distribute a dividend of up to 50% of its annual
As part of the stated policy, the Company's Board of Directors reserves
the right to declare additional dividend distributions, to change the
rate of dividend distributions (either as a policy or on a one-time
basis), to cancel a specific distribution or to cancel the policy as a
whole at any time, at its sole discretion.
Commenting on the news, Shaike Orbach, Silicom's President and CEO,
said, "During the past several years, Silicom's success, which has taken
the Company to a whole new level of revenues and profits, has built our
cash balance to its current strong level of over $50 million, a sum that
is more than sufficient to fund our multi-layered strategy for achieving
"As such, we believe the time has come to share our success more
directly with our shareholders through this policy of significant annual
dividend distributions. We are confiden that our growth in the years to
come, coupled with the substantial dividends which we plan to
distribute, will create greater value for our shareholders and employees
while encouraging long-term interest and investment in our Company."
The actual distribution of a dividend will be subject to meeting the
conditions required by applicable law, including the distribution tests
set forth in Section 302 of the Israeli Companies Law - 1999, and to the
specific decision of the Company's Board of Directors for each
Silicom Ltd. is an industry-leading provider of high-performance
networking solutions designed to increase the throughput and
availability of networking appliances and server-based systems.
Silicom's large and growing base of OEM customers includes most of the
market-leading players in the areas of WAN Optimization, Security and
other mission-critical gateway applications. Silicom's products include
a variety of multi-port 1/10 Gigabit Ethernet server adapters,
innovative internal and external BYPASS solutions and advanced Smart
adapters, including SSL encryption solutions and Redirector adapters.
In addition, Silicom's patented SETAC (Server To Appliance Converter)
product family is a unique solution that enables standard servers to be
configured as network appliances with high-density front networking
ports and no-hassle port modularity.
For more information, please visit: www.silicom.co.il.
Statements in this press release which are not historical data are
forward-looking statements which involve known and unknown risks,
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
include, but are not limited to, those detailed in the Company's
periodic filings with the Securities and Exchange Commission. The
Company disclaims any duty to update such statements.
[ InfoTech Spotlight's Homepage ]