ASETEK – Board of Directors Decides to Adopt Dividend Policy
October 27, 2016 – The board of directors of Asetek has adopted a new dividend policy and intends to propose a cash dividend to the Annual General Meeting in 2017.
The new policy of Asetek is to distribute a dividend to its shareholders which is equal to 50% of the previous year’s net income (after tax profits). When proposing the total annual dividend level, the board will take into consideration the company’s growth plans, liquidity requirements and necessary financial flexibility.
The board expects to propose an initial cash dividend of approximately NOK 1 per share outstanding to the Annual General Meeting in 2017. The expected proposal reflects the new dividend policy combined with an extraordinary dividend component due to Asetek’s strong cash position as of today.
“I appreciate the board’s prudent approach, ensuring that Asetek has financial strength to partner with large OEMs and flexibility for continued investments, while at the same time avoiding excess cash on the balance sheet” says Andre S. Eriksen, Chief Executive Officer.
Asetek® (ASETEK.OL) is the global leader in liquid cooling solutions for data centers, servers and PCs. Asetek’s server products enable OEMs to offer cost effective, high performance liquid cooling data center solutions. Its PC products are targeted at the gaming and high performance desktop PC segments. With over 3.5 million liquid cooling units deployed, Asetek’s patented technology is being adopted by a growing portfolio of OEMs and channel partners. Founded in 2000, Asetek is headquartered in Demark and has operations in California, Texas, China and Taiwan. For more information visit http://www.asetek.com.
For further information, please contact:
Andre S. Eriksen, Chief Executive Officer
Mobile: +45 2125 7076
Peter D. Madsen, Chief Financial Officer
Mobile: +45 2080 7200