Ituran Location and Control Ltd. Announces Dividend Distribution

Ituran Location and Control Ltd. announced that its Board of Directors approved a cash dividend distribution of $0.50 per share, totaling approximately US$10 million. This dividend is for the first quarter of 2026 and will be paid to shareholders of record as of June 24, 2026, with the payment date set for July 8, 2026. The dividend distribution is subject to a 20% withholding tax rate, lower than the standard rate, due to its origin from "Preferred Income" and/or "Preferred Technological Income" as defined under Israeli law and a specific tax ruling. The Board confirmed that the company meets the distribution criteria and that this action will not compromise its business operations or future plans. As of March 31, 2026, the company had retained earnings of US$231.3 million, which will decrease to US$221.3 million after the distribution. The company reported a cash balance of US$108.0 million and no outstanding credit from banking institutions. Ituran is a leader in location-based services and connected-car technology, with over 2.6 million subscribers worldwide.