Eltek Announces Generous Cash Dividend for Shareholders
Eltek Declares a Cash Dividend of $0.19 per Share
Eltek Ltd. (NASDAQ: ELTK), a prominent name in manufacturing advanced printed circuit board solutions, has shared exciting news for its investors. In a recent meeting, the Board of Directors announced a cash dividend of $0.19 per share, totaling approximately $1.3 million. This financial move is aimed at rewarding shareholders and reflecting the company's robust financial standing.
Details of the Dividend Payment
The cash dividend is set to be paid out in US dollars on a specified date to all shareholders recorded by the company. This initiative not only showcases Eltek's commitment to its investors but also represents a decision that exceeds the company's established dividend policy. It signals a strong appreciation for the trust and support shareholders have continued to show towards the company.
Statements from Leadership
Yitzhak Nissan, the Chairman of the Board Directors at Eltek, emphasized the significance of this dividend payment. He noted, "The board's approval of this dividend reflects our deep appreciation for our shareholders' continued trust. It demonstrates our strong financial position and confidence in future growth opportunities. We remain dedicated to long-term value while ensuring stability for upcoming prospects."
About Eltek: Innovation in Printed Circuit Boards
Eltek, known for its slogan "Innovation Across the Board", has established itself as a leader in the printed circuit board industry. With a focus on high-quality and technologically advanced solutions, Eltek manufactures complex and high-density interconnect (HDI) boards, multilayer boards, and flex-rigid boards tailored for the high-end market. The company's commitment to quality is certified by its ITAR compliance and obtaining AS-9100 and NADCAP Electronics certifications.
Global Reach and Diverse Customer Base
The company caters to a wide range of clients, which include industry leaders in defense, aerospace, and medical fields, showcasing its strong position in the global market. Eltek's manufacturer base is not merely restricted to one region; it serves customers across various continents including North America, Europe, and Asia. This expansive reach enables the company to maintain a diversified portfolio and mitigate risks associated with specific markets.
Company History and Operations
Founded in 1970, Eltek has its headquarters, alongside its research and development, production, and marketing operations, situated in Israel. Additionally, Eltek operates through subsidiaries in North America and collaborates with agents and distributors across Europe, India, South Africa, and South America, further solidifying its global presence.
Commitment to Quality and Innovation
Innovation is at the heart of Eltek's operations. The company specializes in manufacturing high-density and multilayer circuits that serve integral roles in many electronic devices. With an industry-leading quality assurance program, Eltek is not only focused on keeping pace with technological advancements but also on leading them.
Frequently Asked Questions
What is the dividend amount declared by Eltek?
Eltek has announced a cash dividend of $0.19 per share, amounting to approximately $1.3 million in total.
When will the dividend be paid out to shareholders?
The dividend is set to be payable on a specific date to all shareholders of record as of another specified date.
Who is Eltek's target market?
Eltek primarily targets high-end markets, serving sectors including defense, aerospace, and medical industries worldwide.
What certifications does Eltek hold?
The company is ITAR compliant and holds AS-9100 and NADCAP Electronics certifications, underscoring its commitment to quality.
How long has Eltek been in operation?
Eltek was founded in 1970 and has grown to be a leader in the printed circuit board industry.
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