NTE.Income from operations up 198%
As I mentioned earlier in the week.It is a good company.NAM TAI ELECTRONICS, INC. Q3 Income From Operations Up 198% to $9.9 Million vs. $3.3 Million, EPS $0.23 vs. $0.19
Dividends
The record date for the fourth quarter dividend of $0.05 per share is December 31, 2003 and the payment date is January 21, 2004.
Special Cash Dividend and Stock Dividend
To celebrate its fifteen consecutive profitable years, and especially the remarkable performance of the Company in this year and its fifteenth anniversary of listing, since its IPO in 1988, and its move to the NYSE earlier this year, the Board of Directors is pleased to declare a special cash dividend of $0.80 per share, plus the issue of a stock dividend to shareholders at the ratio of one dividend share for every 10 shares held by the shareholders. The special dividend and the stock dividend are a reward for the loyalty and support of the shareholders of the Company.
The record date for such special dividend and stock dividend is November 7, 2003. No action is required on the part of shareholders to receive the special dividend and dividend shares. The special dividend and new shares are expected to be mailed from the Company's transfer agent, Registrar and Transfer Company, before November 30, 2003.
As at September 30, 2003, the Company has $85.5 million of cash on hand. The Company also sees significant growth in its sales and income this year when compared with previous years. Looking forward, the Company is confident to maintain the growth of the Company and the declaration of the special dividend will not affect its expansion plan and cash flow.
Regarding the dividend to be paid for the year of 2004, the Company will review its position at the end of the fourth quarter and an appropriate announcement will be included in the fourth quarter results announcement.
