The MGIC Board just answered your question about dividends. $.09 for the first half equates to a yield around 3%... a rare bonus in the growth micro cap tech stock universe.
Presumably this reflects the leadership team's confidence the company will generate solid positive cash flow going forward. Guy Bernstein likes always to keep a healthy pile of cash-on-hand for acquisitions.
It is also plausible that Asseco prefers to shift more cash into their coffers rather than sitting idle in various subsidiaries. I share that preference and look forward to redeploying the dividend in September.
An ongoing share buyback would be much more effective in increasing return to shareholders. If they had such a program, and had timed the buybacks well, the amount of money sent to the Israeli government might have instead reduced the outstanding shares by 20% or more. Apart from paying through the nose to transfer some cash to the owners, it's hard to understand the reasoning behind the dividend payouts. It's like torching the meager profits they generate instead of using them to reward shareholders.
This not a "growth micro cap tech stock" it has not really grown the tech part of the business in over 20 years the only growth that came here is from the consulting companies that were bought a few years ago. Now with the divi MGIC is telling you we can't use this money in any better way to grow the company so we might as well pay it out. Sad but true.