On May 31, 2024, Techpoint, Inc. announced that on May 30, 2024, its board of directors declared the second installment payment of its cash dividend of an aggregate of $0.50 per share for fiscal 2024, of which $0.25 per share was paid to stockholders in February 2024. The second installment on shares of its common stock (including common stock underlying its Japanese Depositary Shares will be paid on or around July 18, 2024 to stockholders of record as of the close of business on June 28, 2024. The timing for receipt of the dividend payments by individual holders of Techpoint?s common stock and JDS will vary due to the payment process for JDS holders.

The amount paid to JDS holders will be reduced by any applicable U.S. withholding income tax, and then converted into Japanese Yen. Once the dividend is converted into Japanese Yen, a distribution payment fee and any additional local taxes will be paid from the distribution amount. As a result, the net amount of the second dividend installment that is ultimately received by JDS holders will be less than $0.25 per JDS.

Techpoint anticipates that JDS holders will be paid the second installment of the fiscal 2024 dividend on or around August 30, 2024.