Back to mobile site

Form 6-K Ituran Location & Contro For: Aug 13

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 8/13/2026

1. CSCO
2. CBRS
3. COHR
4. SPY
5. STUB
6. EAT
7. NVDA
8. WYFI
9. ARX
10. BTGO

August 13, 2015 7:01 AM EDT
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________
 
FORM 6-K
 
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
 
For the month of August, 2015
 
Commission File Number 001-32618
 
Ituran Location and Control Ltd.
(Exact name of Registrant as specified in its Charter)
 
________________________
 
3 Hashikma Street, Azour 58001, Israel
(Address of Registrant’s principal executive offices)
 
________________________
 
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
 
Form 20-F x   Form 40-F o
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1):
 
Yes o   No x
                
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7):
 
Yes o   No x
                   
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes o   No x
                 
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): ______
 
 
 
 
 
99.1
On August 13, 2015, Ituran Location and Control Ltd. issued a press release announcing the dividend record date. A copy of this press release is annexed hereto as Exhibit 99.1.
 
 
 
 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
 
 
ITURAN LOCATION & CONTROL LTD.
                          (Registrant)
  
       
 
By:
/s/ Eyal Sheratzky  
    Name: Eyal Sheratzky   
    Title:   Co-Chief Executive Officer  
       
Date: August 13, 2015
 
 
 
 
EXHIBIT INDEX
 
Exhibit 99.1 Item
 
Press Release, dated August 13, 2015, announcing the dividend record date.
 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Exhibit 99.1
 
 
 
ITURAN LOCATION AND CONTROL LTD
 
ANNOUNCES DISTRIBUTION OF A DIVIDEND

Azour, Israel, August 13, 2015 – Ituran Location and Control Ltd. (NASDAQ: ITRN) announced that the Board of Directors approved the distribution of a cash dividend in the amount of NIS 0.53 per share or $0.14 per share, totaling approximately NIS 11.1 million or US$3.0 million. The dividend will be paid to shareholders of record as of September 24, 2015. The Company will pay the dividend out on October 7, 2015 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 abovementioned 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 June 30, 2015, prior to the distribution was US$51.4 million and retained earnings will reach US$48.4 million after the distribution. The Board of Directors emphasized that as of  June  30, 2015, the Company had a cash balance in hand of US$31 million (this amount is prior to the payment of a dividend of $3.4 million which was issued for the first quarter of 2015 and was paid out in July 2015). As of June 30, 2015, the Company’s current assets (excluding cash, cash equivalents) were in the sum of US$67.6 million and current liabilities were in the sum of US$47.1 million.

About Ituran
Ituran provides location-based services, consisting predominantly of stolen vehicle recovery and tracking services, as well as wireless communications products used in connection with its location-based services and various other applications. Ituran offers mobile asset location, Stolen Vehicle Recovery, management & control services for vehicles, cargo and personal security. Ituran’s subscriber base has been growing significantly since the Company’s inception to over 879,000 subscribers distributed globally. Established in 1995, Ituran has approximately 1,500 employees worldwide, provides its location based services and has a market leading position in Israel, Brazil, Argentina and the United States.

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

Certain statements in this press release are "forward-looking statements" within the meaning of the Securities Act of 1933, as amended.  These forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.

International Investor Relations
Ehud Helft
GK Investor Relations
(US) +1-646 201 9246
 
 


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

SEC Filings