Business
Kamada Updates on Withholding Tax Procedures on Previously Announced Special Cash Dividend to Shareholders
REHOVOT, Israel and HOBOKEN, N.J., March 24, 2025 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ: KMDA; TASE: KMDA.TA), a global biopharmaceutical company with a
About this update from Kamada Ltd.
[{"type":"text","content":"REHOVOT, Israel and HOBOKEN, N.J., March 24, 2025 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ: KMDA; TASE: KMDA.TA), a global biopharmaceutical company with a portfolio of marketed products indicated for rare and serious conditions and a leader in the specialty plasma-derived field, announced today that it has obtained a tax ruling (the “Ruling”) from the Israel Tax Authority (the “ITA”) with respect to the special cash dividend of $0.20 (approximately NIS 0.72) per share on the Company’s ordinary shares (totaling approximately $11.5 million) announced on March 5, 2025 (the “Dividend”), expected to be paid on April 7, 2025 (the “Payment Date”), to shareholders of record at the close of business on March 17, 2025 (the “Record Date”). As a result of the Ruling, shareholders who hold Company shares as of the Record Date that trade such shares on the Nasdaq Stock Market (“Nasdaq Shareholders”) and are residents of a country with which Israel has a tax treaty (“Treaty State”) may be eligible for a reduced Israeli withholding tax rate on their share of the Dividend (the “Nasdaq Dividend”), in comparison to the generally applicable Israeli withholding tax rate (a “Reduced Withholding Tax Rate”), under certain terms and conditions as set forth below. In addition, Nasdaq Shareholders that are Israeli corporate shareholders may be eligible for an exemption from Israeli withholding tax, under the terms and conditions set forth in the Ruling and described below. The description below is not intended to constitute a complete analysis of withholding tax procedures related to the distribution of the Nasdaq Dividend, nor does it address the actual tax liability of any Nasdaq Shareholders. It merely pertains to the Israeli withholding tax procedures concerning the distribution of the Nasdaq Dividend to Nasdaq Shareholders. All shareholders, including Nasdaq Shareholders, are advised to consult their own tax and financial advisors regarding the tax consequences of their specific situations, as well as any tax implications that may arise under the laws of any state, local, foreign, or other taxing jurisdiction. In order to facilitate the implementation of the procedures set forth in the Ruling for the benefit of Nasdaq Shareholders, the Company appointed IBI Trust Management to serve as a processing agent for the benefit of the Nasdaq Shareholders in ...