CARLSTADT, N.J., June 29 /PRNewswire-FirstCall/ -- Jinpan International Ltd. (Nasdaq: JST), a leading designer, manufacturer and distributor of cast resin transformers for high voltage distribution equipment, today announced the date in which the Company will pay the second portion of its annual dividend payment.
In January 2010, the Company announced an annual dividend of $0.14 per common share, half of which was payable to shareholders in February 2010. The second half, or $0.07, of this annual dividend payment will be payable on July 20, 2010 to shareholders of record as of July 8, 2010.
Mr. Zhiyuan Li, Chief Executive Officer of Jinpan International commented, "We are pleased to be paying the second half of our annual dividend, a 17% increase from our 2009 annual dividend to investors and will continue to focus on ways in which we can maximize value for our shareholders."
About Jinpan International Ltd.
Jinpan International Ltd. (Nasdaq: JST) designs, manufactures and distributes cast resin transformers for voltage distribution equipment in China and other countries around the world. Jinpan's cast resin transformers allow high voltage transmissions of electricity to be distributed to various locations at lower, more usable voltage levels. The Company has obtained ISO9001 and ISO1401 certification of its cast resin transformers. Its principal executive offices are located in Hainan, China and its U.S. headquarters is based in Carlstadt, New Jersey.
Safe Harbor Provision
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and observations and involve known and unknown risks, and uncertainties or other factors not under the Company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors are listed from time-to-time in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 20-F for the period ended December 31, 2009 and our subsequent reports on Form 6-K.
Except as required by law, we are not under any obligation, and expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Jinpan International Ltd.