Key Developments: Ituran Location and Control Ltd (ITRN.TA)
6,306.00
9:08am EDT
82.00₪ (+1.32%)
6,224.00₪
6,249.00₪
6,328.00₪
6,207.00₪
17,162
45,179
6,391.00₪
4,175.00₪
Latest Key Developments (Source: Significant Developments)
Ituran Location and Control Ltd Announces Distribution Dividend
Ituran Location and Control Ltd announced that the Board of Directors has approved the distribution of a cash dividend in the amount of NIS0.50 per share or $0.14 per share, totaling approximately NIS 10.5 million or USD3 million. The dividend will be paid to shareholders of record as of June 26, 2013. The Company will pay the dividend out on July 11, 2013. Full Article
Ituran Location and Control Ltd Announces Distribution Of Dividend
Ituran Location and Control Ltd announced that the Board of Directors has approved the distribution of a cash dividend in the amount of NIS1.22 per share or $0.33 per share, totaling approximately NIS25.6 million or $7 million. The dividend will be paid to shareholders of record as of March 21, 2013. The Company will pay the dividend out on April 4, 2013. Full Article
Ituran Location and Control Ltd Announces Distribution Of Dividend
Ituran Location and Control Ltd announced that the Board of Directors has approved the distribution of cash dividend in the amount of NIS 0.47 per share or $0.12 per share, totaling approximately NIS 10 million or $2.6 million. The dividend will be paid to shareholders of record as of December 26, 2012. The Company will pay the dividend out on January 9, 2013. Full Article
Ituran Location and Control Ltd Announces Distribution Of Dividend
Ituran Location and Control Ltd announced that, the Board of Directors has approved the distribution of cash dividend in the amount of NIS0.97 per share or $0.24 per share, totaling approximately NIS21 million or $5.1 million. The dividend will be paid to shareholders of record as of September 24, 2012. The Company will pay the dividend out on October 10, 2012. Full Article
Ituran Location & Control Ltd. Receive Approximately $7.9 Million As Result Of Settlement With Leonardo LP
Ituran Location & Control Ltd. announced that a settlement agreement was signed between the Company and Leonardo LP for the full settlement of both parties' mutual claims against one another and an annulment of the decision of the Tel-Aviv District Court given on June 13, 2011. Pursuant to the settlement, out of the amount of NIS 81.9 million (approximately $20.1 million) already paid by Ituran in accordance with the previous decision of the Tel-Aviv District Court and held in escrow, the sum of NIS 49.7 million (approximately $12.2 million) shall be released to Leonardo. The sum of NIS 32.2 million (approximately $ 7.9 million) shall be returned to Ituran. According to the settlement agreement, the balance between the amount deposited in escrow pursuant to the court order and the amount to be released to the parties shall be divided between the Company, which shall receive 40% of the balance, and Leonardo, which shall receive 60% of the balance. The results of the above settlement agreement reached with Leonardo will positively affect the net profit in the second quarter 2012 financial statements of the Company in the amount of approximately $5 million. The actual cash payment is expected to be received by Ituran towards the end of 2012. Full Article
Ituran Location & Control Ltd. Announces Dividend
Ituran Location & Control Ltd. announced that the Board of Directors has approved the distribution of cash dividend in the amount of NIS0.46 per share or $0.12 per share, totaling approximately NIS9.7 million or $2.6 million. The dividend will be paid to shareholders of record as of June 12, 2012. The Company will pay the dividend out on June 27, 2012. Full Article
Ituran Location & Control Ltd. Announces Signature Of Agreement With General Motors Brazil
Ituran Location & Control Ltd. announced that it has entered into agreement with General Motors Brazil (GMB) through a company controlled by Ituran (51%). According to the agreement, GMB will offer its customers immobilization, location and Telematics services for the Chevrolet range of vehicles it sells in Brazil through Ituran's aforementioned subsidiary. The sale and the installation of the anti-theft device will not be carried out by Ituran. Full Article
Ituran Location & Control Ltd. Announces Dividend
Ituran Location & Control Ltd. announced that the Board of Directors announced a dividend amounting to $25.8 million or $1.23 per share, which is 100% of the net profit for 2011. Based on an average share price during 2011 of $14.11, this represents a dividend yield of 8.7% for 2011. The dividend's record date is March 20, 2012, and the dividend will be paid on April 4, 2012, net of taxes and levies, at the rate of 25%. Full Article
Ituran Location and Control Ltd. Announces Decision By Israeli District Court In Leonardo Litigation Case
Ituran Location and Control Ltd. announced that on June 19, 2011, the Company received the Israeli District Court decision in a litigation case conducted between the Company and Leonardo L.P. The court in its decision rejected Leonardo's three alternative claims for the repayment in cash of the balance of the notes in the amount of approximately $6.2 million plus interest and expenses, the delivery to Leonardo of the maximum number of ordinary shares into which the notes could have been converted on the maturity date without regard to the 2,250,000 share limitation, or 3,516,462 ordinary shares, plus additional monetary damages; and the payment of a cash amount equal to the amount obtained by multiplying the 3,516,462 shares. However, the court accepted Lenoardo's fourth claim that on January 29, 2002 a triggering event, as defined in the agreement occurred, entitling Leonardo the option to redeem the notes. In its decision, the court ordered the Company to pay the sum of approximately $9.6 million, to be paid in accordance with the exchange rate in NIS at the date of the occurrence of the triggering event, plus interest and linkage differences by law and in addition legal expenses in the sum of NIS 1.2 million (approximately $0.3 million), which total approximately the sum of NIS 78.7 million (approximately $22.7 million). Full Article
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