Magic Announces Distribution of Cash Dividend for Second Half of 2015

Sunday, February 21, 2016, Or Yehuda, Israel

Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC), a global provider of mobile and cloud-enabled application and business integration platforms, announced today that in compliance with its semi-annual dividend distribution policy, its Board of Directors has declared a cash dividend in the amount of US $0.09 per share and in the aggregate amount of approximately US $4.0 million for the second half of 2015. 

The dividend is payable on March 17, 2016 to all of the Company’s shareholders of record at the close of the NASDAQ Global Select Market on March 2, 2016.

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 the ordinary shares of Magic Software Enterprises that are traded on the NASDAQ Global Select Market.

 

About Magic Software Enterprises

Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) is a global provider of mobile and cloud-enabled application and business integration platforms.

For more information, visit www.magicsoftware.com.

 

Press Contact:

Amit Birk | VP M&A and General Counsel

Magic Software Enterprises

abirk@magicsoftware.com