Techpoint Announces Second Installment of Dividend
June 03, 2024 at 03:36 pm
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The payment will be made in accordance with and subject to the terms of the Trust Agreement dated August 31, 2017 between Techpoint; Mizuho Securities Co., Ltd.; Mitsubishi UFJ Trust and Banking Corporation; and The Master Trust Bank of Japan, Ltd., which agreement governs the rights of JDS holders.
Techpoint's board of directors previously adopted a dividend policy to link dividend payments to business performance on an ongoing basis. The amount to be paid in future dividends will be reviewed by Techpoint's board of directors, with an aggregate dividend target amount for each fiscal year equal to approximately 50% of Techpoint's annual non-GAAP net income[1] for the prior fiscal year. Techpoint anticipates making payment of future dividends in two separate installments each year. This policy can be modified or terminated at any time at the discretion of Techpoint's board of directors.
About Techpoint
Techpoint, Inc. (Tokyo Stock Exchange '6697.T') is a fabless semiconductor company developing proprietary high definition video connectivity technology targeting high definition video surveillance systems and automotive infotainment systems Techpoint aims to address the growing needs of the next generation high-definition video markets. With design centers in the U.S., as well as offices in Taiwan, Korea, China, and Japan, Techpoint has achieved cutting edge technology in its target markets.
Forward-Looking Statements
The information provided in this press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting our business.
These forward-looking statements may be identified by the use of terms and phrases such as 'anticipates', 'believes', 'can', 'could', 'estimates', 'expects', 'forecasts', 'intends', 'may', 'plans', 'projects', 'targets', 'will', and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters and other statements regarding matters that are not historical are forward-looking statements, including timing of distribution of dividend payments; and our future plans to declare dividends, including frequency and amount of payments. Investors are cautioned that these forward-looking statements relate to future events or our future performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements.
These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: our future financial performance, including our revenue, cost of sales and operating expenses; the need to address the many challenges facing our business; sales and overall market conditions; the competitive pressures we face; risks associated with executing our strategy; and other risks that are described herein, including but not limited to the items discussed in 'Risk Factors' in our filings with the Securities and Exchange Commission ('SEC'), including our Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent filings with the SEC. We do not intend to update or alter our forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law or regulation.
[1] Non-GAAP net income is defined as net income, excluding stock-based compensation expense and related income tax benefit.
Techpoint, Inc. is a semiconductor company that designs, markets and sells mixed-signal integrated circuits for multiple video applications in the security surveillance and automotive markets. Its integrated circuits enable the transition from standard definition (SD) video to high-definition (HD) video in the security surveillance and automotive markets. Its application specific products include its security surveillance and automotive product lines. It offers three subgroups of products for security surveillance consisting of HD-TVI transmitters, HD-TVI receivers and HD-SDI receivers. Its automotive products include Automotive HD-TVI Transmitters, Automotive HD-TVI Camera Processors, Automotive HD-TVI Receivers and Automotive LCD Controllers. Its HD-TVI transmitters are used within the camera, take the HD digital signal from an HD camera processor and converts it to HD-TVI analog signals. Its HD-TVI receivers are used in DVRs and convert the HD-TVI analog signal into digital signals.
TECHPOINT, INC. 
