Navigation Links
Shamir Optical Industry Ltd. Announces Declaration of a Cash Dividend
Date:1/14/2008

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%.

About Shamir

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 treat presbyopia, a vision condition where the eye loses its ability to focus on close objects. Progressive lenses combine several optical strengths into a single lens to provide a gradual and seamless transition from near to intermediate, to distant vision. Shamir differentiates its products from its competitors' primarily through lens design. Shamir's leading lenses are marketed under a variety of trade names, including Shamir Genesis(TM), Shamir Piccolo(TM), Shamir Office(TM), Shamir Nano(TM) and Shamir Autograph(TM). Shamir believes that it has one of the world's preeminent research and development teams for progressive lenses, molds, and complementary technologies and tools. Shamir developed software dedicated to the design of progressive lenses. This software is based on Shamir's proprietary mathematical algorithms that optimize designs of progressive lenses for a variety of activities and environments. Shamir also has created software tools specifically designed for research and development and production requirements, including Eye Point Technology software, which simulates human vision.

Safe Harbor Statement

Statements concerning Shamir's business outlook or future economic performance; product introductions and plans and objectives related thereto; and assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements" as that term is defined under U.S. federal securities laws. Forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, but are not limited to: the conflicts in the region; the effects of competition in our industry, and changes in our relationships with optical laboratories, distributors, research and development partners and other third parties; the effects of the international expansion of our operations and our ability to manage our growth, including our ability to manage potential future acquisitions; the effect of global economic conditions in general and conditions in Shamir's industry and target markets in particular; shifts in supply and demand; market acceptance of new products and continuing products' demand; the impact of competitive products and pricing on Shamir's and its customers' products and markets; timely product and technology development/upgrades and the ability to manage changes in market conditions as needed; interest rate fluctuations; and other factors detailed in Shamir's filings with the Securities and Exchange Commission. Shamir assumes no obligation to update the information in this release.

Investor Relations Contacts:

Roni Gavrielov Jeffrey Goldberger / Marybeth Csaby

KM / KCSA Investor Relations KCSA Worldwide

+972-3-516-7620 212-896-1249 / 212-896-1236

roni@km-ir.co.il jgoldberger@kcsa.com / mcsaby@kcsa.com


'/>"/>
SOURCE Shamir Optical Industry Ltd.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Shamir Optical Industry Ltd. Reports Third Quarter 2007 Results
2. Nanofabrication method paves way for new optical devices
3. New Optical Breast Cancer Imaging Technology Garners Cover Story in National Radiology Magazine
4. CRi Announces Maestro 2, the Next Generation in Vivo Optical Imaging Systems
5. Ultrafast optical shutter is switched entirely by laser light
6. Ohio Ranks Best in the Midwest for Venture Capital Investment in Health Care Bioscience Industry
7. Advanced Cell Technologys Dr. Robert Lanza Makes List of 100 Most Inspiring People in the Life-Sciences Industry
8. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
9. Favrille CEO to Present at NewsMakers in the Biotech Industry Investment Conference
10. NeurogesX to Present at BioCenturys NewsMakers in the Biotech Industry Conference
11. DURECT Corporation to Present at the NewsMakers in the Biotech Industry Investment Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... Newly created ... services and solutions to the healthcare market. The company's primary focus is on ... sales and marketing strategies that are necessary to help companies efficiently bring their ...
(Date:6/24/2016)... on a range of subjects including policies, debt and investment ... Speaking at a lecture to the Canadian Economics ... the country,s inflation target, which is set by both the ... "In certain areas there needs to be frequent ... not sit down and address strategy together?" He ...
(Date:6/23/2016)... WA (PRWEB) , ... June 23, 2016 , ... ... announces the release of its second eBook, “Clinical Trials Patient Recruitment and Retention ... recruitment and retention in this eBook by providing practical tips, tools, and strategies ...
(Date:6/23/2016)... A person commits a crime, and the detective ... the criminal down. An outbreak of foodborne illness ... (FDA) uses DNA evidence to track down the bacteria that ... It,s not. The FDA has increasingly used a complex, cutting-edge ... illnesses. Put as simply as possible, whole genome sequencing is ...
Breaking Biology Technology:
(Date:6/27/2016)... Research and Markets has announced the addition of the "Biometrics ... The report forecasts the biometrics market ... CAGR of 12.28% during the period 2016-2020. The ... inputs from industry experts. The report covers the market landscape and ... a discussion of the key vendors operating in this market. ...
(Date:6/22/2016)...  The American College of Medical Genetics and Genomics was ... as one of the fastest-growing trade shows during the Fastest ... in Las Vegas . ... in each of the following categories: net square feet of ... attendees. The 2015 ACMG Annual Meeting was ranked 23 out ...
(Date:6/22/2016)... LOS ANGELES , June 22, 2016 ... of identity management and verification solutions, has ... cutting edge software solutions for Visitor Management, ... ® provides products that add functional ... The partnership provides corporations and venues with ...
Breaking Biology News(10 mins):