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Taitron Announces Quarterly Cash Dividend Increase of 16.7%

LOS ANGELES, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Taitron Components Incorporated (NASDAQ:TAIT) today announced that its Board of Directors has declared a quarterly cash dividend of $0.035 per share of common stock, payable on November 29, 2019 to stockholders of record as of the close of business on November 15, 2019.A Under our revised dividend policy, the Company will now target a cash dividend to our stockholders in the amount of $0.14 per share per annum, payable in equal $0.035 per share quarterly installments.A This effectively increases by 16.7% our quarterly cash dividends from $0.03 per share to $0.035 per share.
Subsequent dividend declarations and the establishment of record and payment dates for such future dividend payments, if any, are subject to the Board of Directors' continuing determination that the dividend policy is in the best interests of the Company's stockholders.A The dividend policy may be suspended or cancelled at the discretion of the Board of Directors at any time.About Taitron ComponentsTaitron, based in Valencia, California, is the "Discrete Components Superstore."A The Company distributes a wide variety of transistors, diodes and other discrete semiconductors, optoelectronic devices and passive components to electronic distributors, contract electronic manufacturers (CEMs) and original equipment manufacturers (OEMs), who incorporate them into their products.A In addition, Taitron provides value-added engineering and turn-key services for our existing OEM and CEM customers and providing them with original design and manufacturing services for their multi-year turn-key projects.Safe Harbor Statement
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