KIBBUTZ SHAMIR, Israel,
Oct. 13 /PRNewswire-FirstCall/ --
Shamir Optical Industry Ltd. (Nasdaq: SHMR) ("Shamir"), a
leading provider of innovative products and technology to the
ophthalmic lens market, announced today that its board of directors
had declared a dividend distribution in an aggregate amount of
US$13.5 million (approximately
NIS 48.87 million based on the
October 12, 2010 representative rate
of exchange), or approximately US$0.804 (approximately NIS 2.91 based on the October 12, 2010 representative rate of exchange)
per ordinary share based on the number of outstanding shares of
Shamir as of the date hereof.
The dividend will be payable on or about November 24, 2010, to shareholders of record as
of the close of business on November 8,
2010.
The dividend will be paid to Shamir shareholders in US Dollars,
except for holders of Shamir shares traded on Tel-Aviv Stock
Exchange (i.e., shares registered in the name of the nominee
company of Bank Hapoalim Ltd.), who will be paid in NIS according
to the representative rate of exchange published by the Bank of
Israel on November 23, 2010.
About Shamir
Shamir is a leading provider of innovative products and
technology to the spectacle lens market. Utilizing its proprietary
technology, the company develops, designs, manufactures, and
markets progressive lenses to sell to the ophthalmic market. In
addition, Shamir utilizes its technology to provide design services
to optical lens manufacturers under service and royalty agreements.
Progressive lenses are used to treat presbyopia, a vision condition
where the eye loses its ability to focus on close objects.
Progressive lenses combine several optical strengths into a single
lens to provide a gradual and seamless transition from near to
intermediate, to distant vision. Shamir differentiates its products
from its competitors' primarily through lens design. Shamir's
leading lenses are marketed under a variety of trade names,
including Shamir Genesis™, Shamir Piccolo™, Shamir Office™ and
Shamir Autograph™. Shamir believes that it has one of the world's
preeminent research and development teams for progressive lenses,
molds, and complementary technologies and tools. Shamir developed
software dedicated to the design of progressive lenses. This
software is based on Shamir's proprietary mathematical algorithms
that optimize designs of progressive lenses for a variety of
activities and environments. Shamir also has created software tools
specifically designed for research and development and production
requirements, including Eye Point Technology software, which
simulates human vision.
Safe Harbor Statement
Statements concerning Shamir's business outlook or future
economic performance; product introductions and plans and
objectives related thereto; and assumptions made or expectations as
to any future events, conditions, performance or other matters, are
"forward-looking statements" as that term is defined under U.S.
federal securities laws. Forward-looking statements are subject to
various risks, uncertainties and other factors that could cause
actual results to differ materially from those stated in such
statements. These risks, uncertainties and factors include, but are
not limited to: the conflicts in the region; the effects of
competition in our industry, and changes in our relationships with
optical laboratories, distributors, research and development
partners and other third parties; the effects of the international
expansion of our operations and our ability to manage our growth,
including our ability to manage potential future acquisitions; the
effect of global economic conditions in general and conditions in
Shamir's industry and target markets in particular; shifts in
supply and demand; market acceptance of new products and continuing
products' demand; the impact of competitive products and pricing on
Shamir's and its customers' products and markets; timely product
and technology development/upgrades and the ability to manage
changes in market conditions as needed; interest rate fluctuations;
and other factors detailed in Shamir's filings with the Securities
and Exchange Commission. Shamir assumes no obligation to update the
information in this release.
Investor Relations
Contacts:
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Roni Gavrielov
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Jeffrey Goldberger/Marybeth
Csaby
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KM / KCSA Investor
Relations
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KCSA Strategic
Communications
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+972-3-516-7620
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212-896-1249/212-896-1236
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roni@km-ir.co.il
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jgoldberger@kcsa.com
/ mcsaby@kcsa.com
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SOURCE Shamir Optical Industry Ltd.
Copyright . 13 PR Newswire