Business
ITURAN LOCATION AND CONTROL LTD Announces Dividend Distribution of $30 Million for the Fourth Quarter of 2025
AZOUR, Israel, March 5, 2026 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN) announced that the Board of Directors approved the distribution
About this update from Ituran Location And Control Ltd.
[{"type":"text","content":"AZOUR, Israel, March 5, 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 $1.50 per share, totaling approximately US$ 30 million. The dividend will be paid to shareholders of record as of March 30, 2026. The Company will pay the dividend out on April 16, 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. \nIn 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.Retained earnings as of December 31, 2025, prior to the distribution were US$ 244.4 million and retained earnings will reach US$ 214.4 million after the distribution. The Board of Directors emphasized that as of December 31, 2025, the Company had a cash balance in hand of US$ 107.6 million (this amount is prior to the payment of a dividend of approximately US$ 10 million which was declared for the third quarter 2025 and was paid out in January 2026). The Company had no outstanding credit from banking institutions. As of December 31, 2025, the Company's current assets (excluding cash and cash equivalents) were in the sum of US$ 130.1 million and current liabilities were in the sum of US$ 104.1 million.About IturanIturan is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected-car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management & control services for vehicles, cargo and personal security for the retail, insurance industry and car manufacturers. Ituran is the largest OEM telematics provider in Latin America. Its products an...