LONDON (Alliance News) - Machine-to-machine communications provider Telit Communications PLC on Wednesday declared that its maiden dividend will be paid for 2015.
Telit said it will pay a dividend of 6.0 cents per share for the year, subject to shareholder approval.
"2015 was a good year with operating profit and cash flow substantially increasing. We have now decided to recommend to shareholders the payment of a maiden dividend to reflect this performance and the Board's confidence in the outlook for the business," said Chief Executive Oozi Cats.
Telit shares were down 2.4% to 219.69 pence early Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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