Silicon Motion Announces Annual Cash Dividend Payable Quarterly

TAIPEI, Taiwan and MILPITAS, Calif., Oct. 30, 2023 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NasdaqGS: SIMO)(“Silicon Motion” or the “Company”), a global leader in designing and marketing NAND flash controllers for solid state storage devices, announces today its annual cash dividend of $2.00 per ADS.

The Board of Directors of the Company has declared an annual dividend of $2.00 per ADS^1,2 which will be paid in four quarterly installments of $0.50 per ADS³ according to the following anticipated record and payment dates:

	Record Date	Payment Date
	November 16, 2023	November 30, 2023
	February 20, 2024	March 1, 2024
	May 9, 2024	May 23, 2024
	August 8, 2024	August 22, 2024

The Company’s depository bank’s DR books will be closed for issuance and cancellation on each of the record dates.

“Silicon Motion has had a long history of returning cash to shareholders through our dividend program. Our business continues to generate strong cash flow and we believe that we are well positioned to drive long-term growth of our business and improve profitability. While the dividend program was halted in 2022 due to the proposed acquisition by MaxLinear, our Board has decided to reinstate our annual cash dividend payments now that we have terminated the transaction,” said Wallace Kou, President and CEO of Silicon Motion.

The payment of the annual dividend to be paid in quarterly installments will be made according to the anticipated record and payment dates unless subsequently changed by the Board. The declaration and payment of future cash dividends is subject to the Board's continuing determination that the payment of dividends is in the best interests of the Company’s shareholders and is in compliance with all laws and agreements of the Company applicable to the declaration and payment of cash dividends.

ABOUT SILICON MOTION:

We are the global leader in supplying NAND flash controllers for solid state storage devices. We supply more SSD controllers than any other company in the world for servers, PCs and other client devices and are the leading merchant supplier of eMMC and UFS embedded storage controllers used in smartphones, IoT devices and other applications. We also supply customized high-performance hyperscale data center and specialized industrial and automotive SSD solutions. Our customers include most of the NAND flash vendors, storage device module makers and leading OEMs.  For further information on Silicon Motion, visit us at www.siliconmotion.com.