ITURAN LOCATION AND CONTROL LTD Announces Dividend Distribution of $10 Million Declared for the Fourth Quarter of 2024

Core Viewpoint - Ituran Location and Control Ltd. has declared a cash dividend of $0.50 per share, totaling approximately$10 million, reflecting a 25% increase in the quarterly dividend amount as per the updated dividend policy [1][2]. Financial Summary - As of December 31, 2024, the company's retained earnings were $226.1 million, which will decrease to$216.1 million after the dividend distribution [3]. - The company had a cash balance of $77.4 million prior to the payment of a$8 million dividend for Q3 2024, which was paid in January 2025 [3]. - Current assets (excluding cash and cash equivalents) totaled $119.8 million, while current liabilities amounted to$87.9 million as of December 31, 2024 [3]. Company Overview - Ituran is a leader in mobility technology, providing location-based services including stolen vehicle recovery and fleet management [4]. - The company has a subscriber base exceeding 2.4 million, with a strong market position in Israel and Latin America [5]. - Established in 1995, Ituran employs approximately 2,800 people globally, with offices in multiple countries including Israel, Brazil, and the United States [5].