Connect with us

Hi, what are you looking for?

Jewish Business News

Money

Israel’s Formula Systems to Pay Out $8 Million in Dividends

Formula Systems

Israel’s Formula Systems, a provider of software consulting services, computer-based business solutions and proprietary software products, announced that its Board of Directors has declared a cash dividend in the amount of US $0.535 per share and in the aggregate amount of approximately US $7.9 million.

Based in Or Yehuda and founded in 1985, Formula Systems Ltd. is a global information technology company principally engaged, through its public company subsidiaries Matrix, Sapiens International and Magic Software, in providing software consulting services, developing proprietary software products, and providing computer-based business solutions.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

The dividend will be payable on February 4, 2015 to all of the Company’s shareholders of record at the close of trading on the NASDAQ Global Select Market –or the Tel-Aviv Stock Exchange, as appropriate — on January 19, 2015.

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 with respect to the ordinary shares of Formula Systems traded on the Tel Aviv Stock Exchange and the American Depositary Receipts of Formula Systems traded on the NASDAQ Global Select Market.

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.