Ituran Location and Control Ltd Declares $10 Million Dividend
Ituran Location and Control Ltd Announces Dividend Distribution
Ituran Location and Control Ltd. (NASDAQ: ITRN) has declared a cash dividend of $0.50 per share, totaling approximately $10 million. This decision comes as the company continues to thrive in the mobility technology sector.
Details of the Dividend Distribution
Timeline for Payment
The dividend will be awarded to shareholders on record as of June 18, 2025, and the payment is scheduled for July 2, 2025. This distribution demonstrates Ituran's commitment to delivering value to its investors while maintaining sound financial health.
Company’s Financial Outlook
The Board of Directors reviewed the financial standing of Ituran, confirming that the cash dividend would not compromise the company’s operational capabilities or future strategies. The retained earnings before the dividend are noted at approximately $230.7 million and will adjust to around $220.7 million post-distribution.
As of March 31, 2025, Ituran reported a strong cash position of $75.7 million, ensuring it can comfortably manage ongoing commitments even after issuing the dividend.
About Ituran Location and Control
With a rich history since its establishment in 1995, Ituran has become a frontrunner in mobility technology, offering location-based services such as stolen vehicle recovery and fleet management. Their dedication to innovation has positioned them as the largest OEM telematics provider in Latin America, with a growing subscriber base exceeding 2.5 million people globally.
Expansion and Development
Ituran’s services are utilized in over 20 countries, showcasing the brand's expansive reach and impact on car manufacturers and the insurance industry. Additionally, Ituran founded the DRIVE startup incubator in Tel Aviv, aimed at fostering advancements in smart mobility technology.
Workforce Information
Boasting around 2,800 employees, Ituran operates in multiple countries including Brazil, Argentina, Mexico, and more. This international footprint allows Ituran to better serve its diverse clientele.
Contact Information
For more details, reach out to:
Udi Mizrahi
Deputy CEO & VP Finance, Ituran
Phone: +972 3 557 1348
Ehud Helft
International Investor Relations
Phone: +1 212 378 8040
Frequently Asked Questions
What is the dividend amount declared by Ituran?
Ituran has declared a cash dividend of $0.50 per share, totaling around $10 million.
When will the dividend be paid out?
The dividend will be paid to shareholders on July 2, 2025.
How can I contact Ituran for more information?
You can contact Udi Mizrahi or Ehud Helft for inquiries regarding the company.
What services does Ituran offer?
Ituran provides a variety of location-based services, including stolen vehicle recovery and fleet management.
How large is Ituran's subscriber base?
Ituran's subscriber base exceeds 2.5 million globally, highlighting its dominance in the market.
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