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Magal Security Systems, Ltd. (NASDAQ: MAGS) announced a cash distribution of $1.079 per share, totaling approximately $25 million, payable on December 28, 2020 to shareholders on record as of December 17, 2020. The ex-dividend date is set for December 29, 2020, as per NASDAQ rules. Investors should note that the share price on the ex-dividend date is expected to drop, reflecting the cash distribution. This distribution is significant, representing over 25% of MAGS' share value.

Magal Security Systems, Ltd. (NASDAQ: MAGS) has announced a cash distribution of $1.079 per share, totaling approximately $25 million, following court approval in Israel. The distribution will be paid in USD on December 28, 2020 to shareholders of record on December 17, 2020. Despite the COVID-19 pandemic, the company remains net income positive year-to-date, affirming its strong financial position with a debt-free balance sheet. Shareholders may be eligible for a lower withholding tax rate on this distribution.

Magal Security Systems Ltd. (NASDAQ GMS: MAGS) announced a virtual presentation at the Imperial Capital Security Investor Conference on December 3, 2020, at 9:45 a.m. EDT. CEO Dror Sharon expressed excitement about showcasing their differentiated business model and strategy for maximizing shareholder value. The conference runs from December 2 to 3, 2020. Attendees can register for the event and book one-on-one meetings through a provided link. Magal has over 45 years of experience delivering security solutions globally.

Magal Security Systems, Ltd. (NASDAQ: MAGS) reported Q3 2020 revenue of $18.3 million, down from $22.2 million in Q3 2019. Gross margin decreased to 41.8%, with operating income of $0.9 million compared to $2.5 million a year ago. Net income attributable to shareholders was $0.6 million or $0.01 per share, down from $1.3 million or $0.06 per share. EBITDA also fell to $1.3 million. Despite these declines, cash and equivalents increased to $53.4 million ($2.31 per share). Management remains optimistic about future growth.

Magal Security Systems, Ltd. (NASDAQ: MAGS) will announce its 2020 third quarter financial results on November 16, 2020, ending September 30, 2020. The management will host a conference call at 10:00 a.m. ET to discuss the results. Participants are encouraged to join 10 minutes early, using conference ID 13712737. The call will also be available via a live webcast and a replay will be accessible on the company’s website after 1:00 p.m. ET on the same day, lasting until November 30, 2020.

Magal Security Systems, Ltd. (Nasdaq: MAGS) has secured a $20 million contract to supply and maintain an integrated security system for a government body in Africa. The company's direct share in the project is estimated at $10 million, which may increase. The system includes Magal's FORTIS PSIM technology, along with advanced perimeter intrusion detection and video management solutions. CEO Dror Sharon highlighted the achievement amid COVID-19 challenges, emphasizing the project's potential to enhance Magal's presence in the region.

Magal Security Systems (NASDAQ:MAGS) will present at the LD 500 investor conference on September 2, 2020, at 11:00 a.m. EDT. The conference runs from September 1-4, 2020, and includes opportunities for one-on-one meetings. Magal, a leader in comprehensive security solutions, offers a range of products and services in over 80 countries. The event aims to connect microcap companies with investors, highlighting unique opportunities in the market. For registration and more information, visit the provided links.

Magal Security Systems (NASDAQ: MAGS) reported Q2 2020 financial results, revealing revenue of $16.4 million, a 17% decline from $19.7 million in Q2 2019. Despite the revenue drop, the company achieved a gross margin of 44.2% and operating income of $0.8 million, up from $0.2 million last year. Net income was $0.2 million compared to a loss of $0.2 million in 2019. EBITDA increased by 78% to $1.3 million. Management emphasized cost control amid COVID-19 challenges impacting projects and sales.

Magal Security Systems (Nasdaq: MAGS) announced a contract worth $6.5 million to supply security solutions for deployable military assets globally. The Senstar division will deliver physical security, perimeter detection, video surveillance, and access control systems. Final acceptance of the equipment is expected in the second half of 2021. CEO Dror Sharon emphasized the competitive nature of the RFP and the technological edge of Senstar's offerings, signifying a notable endorsement of their capabilities in military security solutions.