KIBBUTZ SHAMIR, Israel, Jan. 14 /PRNewswire-FirstCall/ -- Shamir Optical Industry Ltd. (Nasdaq: SHMR) ("Shamir"), a leading provider of innovative products and technology to the progressive ophthalmic lens market, announced today that its board of directors had declared a dividend distribution in an aggregate amount of US$ 4.0 million (approximately NIS 15.1 million based on the January 11, 2008 representative rate of exchange), or approximately US$ 0.243 (approximately NIS 0.917 based on the January 11, 2008 representative rate of exchange) per ordinary share based on the number of outstanding shares of Shamir as of the date hereof.
The dividend will be payable on or about February 25, 2008, to shareholders of record as of the close of business on February 11, 2008.
The dividend will be paid to Shamir shareholders in US Dollars, except for holders of Shamir shares traded on Tel-Aviv Stock Exchange (i.e., shares registered in the name of the nominee company of Bank Hapoalim Ltd.), who will be paid in NIS according to the representative rate of exchange published by the Bank of Israel on February 22, 2008.
The dividend will be paid to the Shamir shareholders net of taxes to be withheld at source pursuant to Israeli law. The maximum weighted withholding tax rate is 15.07%.
Shamir is a leading provider of innovative products and technology to
the progressive spectacle lens market. Utilizing its proprietary
technology, the company develops, designs, manufactures, and markets
progressive lenses to sell to the ophthalmic market. In addition, Shamir
utilizes its technology to provide design services to optical lens
manufacturers under service and royalty agreements. Progressive lenses are
used to t
|SOURCE Shamir Optical Industry Ltd.|
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