Magic Software Enterprises Ltd. (MGIC)

[midastouch017]

Magic Declares Dividend for Second Half of 2013

Thursday 20 February 2014

OR YEHUDA, Israel, February 20, 2014 /PRNewswire/ --

Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of software platforms for enterprise mobility, cloud applications, and business integration, announced today that in compliance with its dividend distribution policy its Board of Directors has declared a cash dividend in the amount of US $0.12 per share and in the aggregate amount of approximately US $4.5 million for the second half of 2013.

The dividend is payable March 14, 2014 to all of the Company's shareholders of record at the close of the NASDAQ Global Select Market on February 27, 2014.

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 on the ordinary shares of Magic Software Enterprises that are traded on the Tel Aviv Stock Exchange, and in US dollars on the ordinary shares of Magic Software Enterprises that are traded on the NASDAQ Global Select Market.