#Israel #Dividend #Ituran #Azour #Location Services

Ituran Location and Control Ltd. Declares $10 Million Dividend for Second Quarter 2026

Ituran Location and Control Ltd. (NASDAQ: ITRN), a leading provider of location-based services, has made headlines with the announcement of a $10 million cash dividend for the second quarter of 2026. This decision signifies the company’s ongoing commitment to returning value to its shareholders while showcasing its robust financial health.

Details of the Dividend Distribution

According to the announcement made on August 12, 2026, Ituran’s Board of Directors has approved a distribution of $0.50 per share. This brings the total cash dividend to approximately $10 million and will benefit shareholders on record as of September 29, 2026. The payout is scheduled to take place on October 14, 2026.

In a noteworthy aspect of this distribution, the effective tax rate on the dividend will be 20%, which is lower than the standard rate. This is made possible through a strategic maneuver involving the distribution of the dividend from “Preferred Income” and/or “Preferred Technological Income.” These classifications are in accordance with the Encouragement of Capital Investment Law and supported by a recent tax ruling received from the Israel Tax Authority.

Financial Health and Dividends

The Board’s decision followed a thorough examination of Ituran's ability to uphold its operational commitments alongside the dividend payout, in compliance with Israeli law. As of June 30, 2026, prior to the distribution, Ituran reported $238.7 million in retained earnings, expected to adjust to $228.7 million post-distribution. The company also boasts a healthy cash position, reporting $103.7 million on hand.

Ituran has no outstanding bank debt and its current assets total $144.5 million, while current liabilities stand at $122.4 million. This underlines the firm's stable financial standing, enabling it to support both dividends and future expansions effectively.

About Ituran Location and Control Ltd.

Founded in 1995, Ituran is a prominent player in the mobility technology sector, specializing in location-based solutions. Their offerings include stolen vehicle recovery, fleet management, and asset management services that cater to various industries including automotive and insurance.

With a subscriber base surpassing 2.7 million customers worldwide, Ituran holds a prominent position in Israel as well as throughout Latin America. The company is also recognized for its innovative strategies, exemplified by its establishment of the DRIVE startup incubator in Tel Aviv, dedicated to nurturing smart mobility endeavors.

Currently, Ituran employs approximately 2,800 staff members globally, with offices in countries such as Brazil, Mexico, Canada, and the United States, maintaining a strong operational footprint across diverse markets.

For further insights and updates regarding their services and financial activities, Ituran invites interested parties to visit their official website at www.ituran.com.