07.09.2012 - Logitech to Ask Shareholders to Approve One-Time Dividend
NEWARK, Calif. — July 9, 2012 and MORGES, Switzerland, July 10, 2012 — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that its board of directors will ask shareholders to approve a one-time dividend, distributed out of capital contribution reserves. The total amount may not exceed CHF 125,650,814. Logitech will ask for the vote at the Company’s annual general meeting in Lausanne, Switzerland on Sept. 5, 2012.
The estimated amount per share is CHF 0.81, based on 156 million dividend-bearing shares outstanding as of June 30, 2012. Dividend-bearing shares include all shares issued, except for treasury shares held by Logitech International S.A., as of the record date, which is expected to be Sept. 17, 2012. The approximate payment date for the dividend is expected to be Sept. 18, 2012.
“Historically, we rewarded our shareholders with strong financial performance and growth in our share price,” said Guerrino De Luca, Logitech chairman and chief executive officer. “In FY 2012, we delivered poor financial performance and our share price declined significantly. In view of this, we determined that we could best reward our shareholders by taking advantage of our strong cash position to offer a one-time distribution that is not subject to Swiss withholding tax for any of our shareholders.”
Logitech intends to file its preliminary proxy statement, which includes additional information regarding this proposal, with the U.S. Securities and Exchange Commission and post it on the Company’s website at http://ir.logitech.com on July 10, 2012.
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech’s combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
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This press release contains forward-looking statements within the meaning of the U.S. federal securities laws, including, without limitation, statements regarding the payment, record date, timing of the payment and Swiss withholding tax treatment of a dividend. The forward-looking statements in this document involve risks and uncertainties that could cause Logitech’s actual results and events to differ materially from those anticipated in these forward-looking statements. A detailed discussion of such risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in Logitech’s periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2012, available at www.sec.gov., under the caption Risk Factors and elsewhere. Logitech does not undertake any obligation to update any forward-looking statements.
Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s Web site at www.logitech.com.
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