Magic Software Enterprises (Nasdaq: MGIC), recently shared that its board of directors has declared a cash dividend in the amount of US$0.50 per share the total sum amount of approximately US$16.0 million. The dividend is payable January 25, 2010 to all of Magic Software's shareholders of record at the close of the NASDAQ Global Market on January 11, 2010.
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In accordance with Israeli tax law, Magic Software will deduct 20% withholding tax of the dividend amount payable to each shareholder, subject to applicable exemptions. Magic Software has not established a dividend policy with respect to future dividend distributions. The dividend will be paid in US dollars on the ordinary shares of Magic Software Enterprises that are traded on the Tel Aviv Stock Exchange, and on the ordinary shares of Magic Software Enterprises that are traded on the NASDAQ Global Market. Magic Enterprises (NASDAQ: MGIC) is a global provider of multiple-mode application platform solutions - including Full Client, Rich Internet Applications, Mobile or Software-as-a-Service modes - and business and process integration solutions. Magic Software has offices in 10 countries and a presence in over 50, as well as a global network of ISV's, system integrators, value-added distributors and resellers, and consulting and OEM partners. The company's award-winning code-free solutions give partners and customers the power to leverage existing IT resources, enhance business agility and focus on core business priorities. Magic Software's technological approach, product roadmap and corporate strategy are recognized by leading industry analysts. Magic Software has partnerships with global IT leaders including SAP AG, salesforce.com, IBM and Oracle
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