ROCHELLE
PARK, N.J., Aug. 15,
2024 /PRNewswire/ -- Sapiens International
Corporation N.V. (NASDAQ: SPNS) (TASE: SPNS), a leading global
provider of software solutions for the insurance industry,
announced today that its board of directors has approved the
distribution of a cash dividend of $0.29 per share, or $16.2 million in total, based on 2024 first
half results. The dividend is in line with the company's policy of
distributing on a semi-annual basis up to 40% of its annual
non-GAAP net income and will be paid on September 12, 2024, to Sapiens' shareholders
of record, as of August 28, 2024. The
dividend is subject to withholding of Israeli tax at source at the
rate of 25% of the dividend amount payable to each shareholder of
record.
"This dividend distribution to Sapiens' shareholders highlights
our company's strong financial performance and our unwavering
confidence in our strategic execution," stated Roni Al-Dor,
President & CEO of Sapiens. "We extend our gratitude to our
shareholders, customers, partners, and employees for their
continued support."
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS)
empowers the financial sector, with a focus on insurance, to
transform and become digital, innovative, and agile. With more than
40 years of industry expertise, Sapiens' cloud-based SaaS insurance
platform offers pre-integrated, low-code capabilities across core,
data and digital domains to accelerate our customers' digital
transformation. Serving over 600 customers in more than 30
countries, Sapiens offers insurers across property and casualty,
workers' compensation, and life insurance markets the most
comprehensive set of solutions, from core to complementary,
including Reinsurance, Financial & Compliance, Data &
Analytics, Digital, and Decision Management. For more information
visit www.sapiens.com or follow us on LinkedIn.
Investors and Media Contact
Sapiens
Yaffa
Cohen-Ifrah
Chief of Marketing Officer and Head of Investor Relations,
Sapiens
Email: yaffa.cohen-ifrah@sapiens.com
Hayden IR
Kimberly
Rogers
Managing Director, Hayden IR
kim@HaydenIR.com
Forward Looking Statements
Certain matters discussed in this press release that are
incorporated herein and therein by reference are forward-looking
statements within the meaning of Section 27A of the Securities Act,
Section 21E of the Exchange Act and the safe harbor provisions of
the U.S. Private Securities Litigation Reform Act of 1995, that are
based on our beliefs, assumptions and expectations, as well as
information currently available to us. Such forward-looking
statements may be identified by the use of the words "anticipate,"
"believe," "estimate," "expect," "may," "will," "plan" and similar
expressions. Such statements reflect our current views with respect
to future events and are subject to certain risks and
uncertainties. There are important factors that could cause our
actual results, levels of activity, performance or achievements to
differ materially from the results, levels of activity, performance
or achievements expressed or implied by the forward-looking
statements, including, but not limited to: the degree of our
success in our plans to leverage our global footprint to grow our
sales; the degree of our success in integrating the companies that
we have acquired through the implementation of our M&A growth
strategy; the lengthy development cycles for our solutions, which
may frustrate our ability to realize revenues and/or profits from
our potential new solutions; our lengthy and complex sales cycles,
which do not always result in the realization of revenues; the
degree of our success in retaining our existing customers or
competing effectively for greater market share; the global
macroeconomic environment, including headwinds caused by inflation,
relatively high interest rates, potentially unfavorable currency
exchange rate movements, and uncertain economic conditions, and
their impact on our revenues, profitability and cash flows;
difficulties in successfully planning and managing changes in the
size of our operations; the frequency of the long-term, large,
complex projects that we perform that involve complex estimates of
project costs and profit margins, which sometimes change
mid-stream; the challenges and potential liability that heightened
privacy laws and regulations pose to our business; occasional
disputes with clients, which may adversely impact our results of
operations and our reputation; various intellectual property issues
related to our business; potential unanticipated product
vulnerabilities or cybersecurity breaches of our or our customers'
systems; risks related to the insurance industry in which our
clients operate; risks associated with our global sales and
operations, such as changes in regulatory requirements, wide-spread
viruses and epidemics like the coronavirus epidemic, and
fluctuations in currency exchange rates; and risks related to our
principal location in Israel and
our status as a Cayman Islands
company.
While we believe such forward-looking statements are based on
reasonable assumptions, should one or more of the underlying
assumptions prove incorrect, or these risks or uncertainties
materialize, our actual results may differ materially from those
expressed or implied by the forward-looking statements. Please read
the risks discussed under the heading "Risk Factors" in our Annual
Report on Form 20-F for the year ended December 31, 2023, filed with the U.S. Securities
and Exchange Commission on March 26,
2024, in order to review conditions that we believe could
cause actual results to differ materially from those contemplated
by the forward-looking statements. You should not rely upon
forward-looking statements as predictions of future events.
Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee that
future results, levels of activity, performance and events and
circumstances reflected in the forward-looking statements will be
achieved or will occur. Except as required by law, we undertake no
obligation to update publicly any forward-looking statements for
any reason, to conform these statements to actual results or to
changes in our expectations.
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SOURCE Sapiens International Corporation