KFAR SAVA, Israel--(BUSINESS WIRE)-- Silicom Ltd.(SILC)today announced that its Board of Directors has declared a cash dividend in the amount of US $0.55 per share in respect of its 2012 results, representing an aggregate distribution of approximately US $3.9 million. The dividend will be payable on April 17, 2013 to all shareholders of record at the close of the NASDAQ Global Market on April 4, 2013.
“Following our January 2013 decision to implement a dividend policy, and given our cash balance of nearly $57 million and visibility for continued accelerated growth, we are very pleased to share our success more directly with our shareholders,” stated Shaike Orbach, Silicom’s President and CEO. “We believe that the perfect fit between our strategy and products on the one hand, and the critical short- and long-term needs of the Networking and Data Infrastructure Industry on the other, will continue to drive our momentum, even beyond our 2012 results, which broke all previous records across all parameters. As a result, we are now positioned to rise to a whole new level, both in our performance and in the value we provide to our shareholders.”
Cyprus. Only answer. They were not paying any attention to the divvy announcement. If the market actually does correct this will sell-off as you can see but filling in previous gaps would just be a healthy pul back IMHO.