Business
ITURAN LOCATION AND CONTROL LTD Announces Dividend Distribution of $10 Million for the First Quarter of 2026
Ituran Location and Control Ltd. (NASDAQ: ITRN) announced that the Board of Directors approved the distribution of a cash dividend in the amount of $0.50 per share, totaling approximately US$10 million. The dividend will be paid to shareholders of record as of June 24, 2026. The Company will pay the dividend out on July 8, 2026, net of taxes at the rate of 20% (a lower rate than standard) as the dividend is distributed from "Preferred Income" and/or "Preferred Technological Income," as defined u
About this update from Ituran Location And Control Ltd.
[{"type":"text","content":"AZOUR, Israel, May 26, 2026 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN) announced that the Board of Directors approved the distribution of a cash dividend in the amount of $0.50 per share, totaling approximately US$10 million. The dividend will be paid to shareholders of record as of June 24, 2026. The Company will pay the dividend out on July 8, 2026, net of taxes at the rate of 20% (a lower rate than standard) as the dividend is distributed from "Preferred Income" and/or "Preferred Technological Income," as defined under the Encouragement of Capital Investment Law and the provisions of a tax ruling (the "Ruling") received from the Israel Tax Authority (the "ITA") with respect to the tax withholding rate upon dividend distribution.","length":807,"tagName":"p"},{"type":"image","alt":"Ituran Logo","displaySize":"","headline":null,"caption":"Ituran Logo","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":335,"url":"https://media.zenfs.com/en/prnewswire.com/a56b493eb9f33558da71e22806a26052"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/fTbojT4acE9S2Y2kQVGwZQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTU5MA--/https://media.zenfs.com/en/prnewswire.com/a56b493eb9f33558da71e22806a26052","width":400,"height":335},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/MB93S2lNirFgmAFaPmMX_A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTUzNg--/https://media.zenfs.com/en/prnewswire.com/a56b493eb9f33558da71e22806a26052","width":400,"height":335}}},{"type":"text","content":"In its decision to approve the distribution of the cash dividend, the Board of Directors examined whether the Company meets the distribution criteria according to Israeli law. The Board of Directors concluded that the above-mentioned distribution will not undermine the Company's ability to keep performing in its current course of business or future plans, and is able to meet its undertakings when due.","length":408,"tagName":"p"},{"type":"text","content":"Retained earnings as of March 31, 2026, prior to the distribution were US$ 231.3 million and retained earnings will reach US$ 221.3 million after the distribution. The Board of Directors emphasized that as of March 31, 2026, the Company had a cash balance in hand of US$ 108.0 million (this amount is prior to the payment of a dividen...