OR YEHUDA, Israel, June 30, 2015 /PRNewswire/ --
Formula Systems (1985) Ltd. (NASDAQ: FORTY), a leading provider
of software consulting services, computer-based business solutions
and proprietary software products, today announced that its Board
of Directors has declared a cash dividend in the amount of US
$0.34 per share and in the aggregate
amount of approximately US $5.0
million.
The dividend is payable on August 6,
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 July 20, 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.
About Formula
Formula Systems (1985) 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.
For more information, visit http://www.formulasystems.com.
Except for any historical information contained herein, matters
discussed in this press release might include forward-looking
statements that involve a number of risks and uncertainties.
Regarding any financial statements, actual results might vary
significantly based upon a number of factors including, but not
limited to, risks in product and technology development, market
acceptance of new products and continuing product conditions, both
locally and abroad, release and sales of new products by strategic
resellers and customers, and other risk factors detailed in
Formula's most recent annual report and other filings with the
Securities and Exchange Commission. These forward-looking
statements are made only as of the date hereof, and the Company
undertakes no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events
or otherwise.
Press Contact:
Formula Systems (1985) Ltd.
+972-3-5389487
ir@formula.co.il
SOURCE Formula Systems (1985) Ltd