ITURAN LOCATION AND CONTROL LTD Announces Dividend Distribution of $10 Million Declared for the First Quarter of 2025

Rhea-AI Summary

Ituran Location and Control (NASDAQ: ITRN) has declared a quarterly dividend of $0.50 per share, totaling approximately $10 million. The dividend will be paid on July 2, 2025, to shareholders of record as of June 18, 2025, with a 25% tax rate. The company's financial position remains strong with $75.7 million in cash (before Q4 2024 dividend payment), $125.7 million in current assets (excluding cash), and $93.3 million in current liabilities. Retained earnings stood at $230.7 million before the distribution and will be $220.7 million after. The Board confirmed that this distribution won't affect the company's business operations or future plans.

Positive

• Strong cash position with $75.7 million in hand
• Healthy retained earnings of $230.7 million
• No credit from banking institutions
• Positive working capital with current assets exceeding current liabilities

Negative

• None.

AZOUR, Israel, May 28, 2025 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN) announced that the Board of Directors approved the distribution of a cash dividend in the amount of $0.50 per share, totaling approximately US$ 10 million. The dividend will be paid to shareholders of record as of June 18, 2025. The Company will pay the dividend out on July 2, 2025, net of taxes at the rate of 25%.

 

In its decision to approve the distribution of the cash dividend, the Board of Directors examined whether the Company meets the distribution criteria according to Israeli law. The Board of Directors concluded that the above-mentioned distribution will not undermine the Company's ability to keep performing in its current course of business or future plans, and is able to meet its undertakings when due.

Retained earnings as of March 31, 2025, prior to the distribution was US$ 230.7 million and retained earnings will reach US$ 220.7 million after the distribution. The Board of Directors emphasized that as of March 31, 2025, the Company had a cash balance in hand of US$ 75.7 million (this amount is prior to the payment of a dividend of approximately US$ 10 million which was issued for the fourth quarter 2024 and was paid out in April 2025). The Company had no credit from banking institutions. As of March 31, 2025, the Company's current assets (excluding cash and cash equivalents) were in the sum of US$ 125.7 million and current liabilities were in the sum of US$ 93.3 million.

About Ituran
Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected-car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management & control services for vehicles, cargo and personal security for the retail, insurance industry and car manufacturers. Ituran is the largest OEM telematics provider in Latin America. Its products and applications are used by customers in over 20 countries. Ituran is also the founder of the Tel-Aviv based DRIVE startup incubator to promote the development of smart mobility technology.

Ituran's subscriber base has been growing significantly since the Company's inception to over 2.5 million subscribers using its location-based services with a market leading position in Israel and Latin America. Established in 1995, Ituran has approximately 2,800 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Columbia, India, Canada and the United States.

For more information, please visit Ituran's website, at: www.ituran.com

Company Contact Udi Mizrahi udi_m@ituran.com  Deputy CEO &VP Finance, Ituran  (Israel) +972 3 557 1348

International Investor Relations Ehud Helft ituran@ekgir.com  EK Global Investor Relations (US) +1 212 378 8040

 Logo: https://mma.prnewswire.com/media/1972820/4859739/Ituran_logo.jpg

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SOURCE Ituran Location and Control Ltd.

FAQ

What is the dividend amount per share for ITRN stock in Q1 2025?

Ituran Location and Control (ITRN) declared a dividend of $0.50 per share for Q1 2025.

When is the ex-dividend date for ITRN's Q1 2025 dividend?

Shareholders must be on record by June 18, 2025, to receive the dividend payment scheduled for July 2, 2025.

What is Ituran's current financial position as of March 2025?

As of March 2025, Ituran has $75.7M in cash, $125.7M in current assets (excluding cash), $93.3M in current liabilities, and $230.7M in retained earnings.

How much will ITRN's total dividend distribution be for Q1 2025?

ITRN's total dividend distribution for Q1 2025 will be approximately $10 million.

What is the tax rate on ITRN's Q1 2025 dividend?

The dividend will be paid net of taxes at a rate of 25%.