TCM.L Regulatory News (TCM)

23 March 2016

Telit Communications PLC

Dividend Declaration

Telit Communications PLC (AIM: TCM, the "Company", "Telit"), a global enabler of the Internet of Things (IoT), is announcing the commencement of a dividend policy. Telit plans to pay a maiden dividend for the financial year ended 31 December 2015 of 6 dollar cents per share, subject to shareholder approval at its AGM. This proposed dividend represents approximately 28% of 2015 adjusted EPS.

Oozi Cats, Telit Chief Executive commented:

"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. In particular, operating expenses are expected to continue to reduce as a percentage of revenue and we expect to generate increased levels of cash flow going forward."

The Directors intend to declare an interim and final dividend in respect of each financial year, in the approximate respective ratio of 33:67. The Directors intend to adopt a progressive dividend policy taking account of the underlying long-term earnings growth of the Company. Any dividends will be subject to the availability of sufficient distributable reserves and cash, taking into account the Company's working capital requirements.

The timetable for the maiden dividend is as follows:

A notice of Annual General Meeting will be sent to shareholders in due course.

Enquiries: