Silicon Motion declares annual cash dividend, payable quarterly

TAIPEI, Taiwan and MILPITAS, California, Oct. 28, 2024 (GLOBE NEWSWIRE) — Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon Motion” or the “Company”), a global leader in the design and commercialization of NAND -flash controllers for solid-state storage devices, today announces its annual cash dividend of $2.00 per ADS.

The Company’s Board of Directors 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 expected registration and payment dates:

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

“Silicon Motion’s business prospects and our ability to generate free cash flow remain strong. Our focus remains on returning a meaningful portion of this to our shareholders as dividends,” said Wallace Kou, president and CEO of Silicon Motion.

The payment of the annual dividend to be paid in quarterly installments will take place according to the expected registration and payment dates, unless subsequently changed by the Board of Directors. The declaration and payment of future cash dividends is subject to the Board of Directors’ continued determination that the payment of dividends is in the best interests of the Company’s shareholders and in accordance with all applicable laws and agreements of the Company on the declaration and payment of cash dividends. .

ABOUT SILICONE MOVEMENT:

We are the world leader in providing 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 provider of eMMC and UFS embedded storage controllers used in smartphones, IoT devices and other applications. We also provide custom, high-performance hyperscale data centers and specialized industrial and automotive SSD solutions. Our customers include most NAND flash suppliers, storage device module manufacturers and leading OEMs. To learn more about Silicon Motion, visit us at www.siliconmotion.com.

FORWARD-LOOKING STATEMENTS:

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements using terminology such as ‘may’, ‘will’, ‘should’, ‘expect’, ‘intend’, ‘plan’, ‘anticipate’, ‘believe’, ‘estimate’, ‘ predict’, ‘potentially’ continue”, or the negative of these terms or other similar terminology. Although such statements are based on our own information and information from other sources that we consider reliable, you should not place undue reliance on them. These statements involve risks and uncertainties. and actual market trends or our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied by these forward-looking statements for various reasons. Potential risks and uncertainties include, but are not limited to, the unpredictable volume and timing of customer orders, which are not contractually established but vary based on a purchase order; the loss of one or more key customers or the significant reduction, postponement, rescheduling or cancellation of orders from one or more customers; general economic conditions or conditions in the semiconductor or consumer electronics markets; the impact of inflation on our business and the activities of our customers and any effect this may have on economic activity in the markets in which we operate; the functionality and performance of our information technology (“IT”) systems, which are subject to cybersecurity threats and which support our critical operational activities, and any breaches of our IT systems or those of our customers, suppliers, partners and third-party suppliers technology licensed by parties; the impact on our business and that of our customers, taking into account the ongoing tariffs and trade disputes between the U.S. and China; ongoing tensions between Taiwan and China, including increased military activities, are easing; in the overall average sales prices of our products; changes in the relative sales mix of our products; changes in our supply chain costs that have affected us and our industry, as well as other industries on a global basis; or non-payment of cash dividends in the future, at the discretion of our board of directors, and any announced planned increases in such dividends; changes in our costs of finished products; the availability, pricing and timeliness of delivery of other components and raw materials used in the products we sell, given current raw material shortages in our industry; our customers’ sales prospects, purchasing patterns and inventory adjustments based on consumer demand and general economic conditions; any impairment losses that may be incurred in respect of previously acquired or future divested businesses; our ability to successfully develop, introduce and sell new or improved products in a timely manner; and the timing of new product announcements or introductions by us or by our competitors. For further discussion of these risks, uncertainties and other factors, please refer to the documents we file from time to time with the U.S. Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the U.S. Securities and Exchange on April 30 Commission has been filed. , 2024. Except as required under securities laws, we do not intend and undertake no obligation to update or revise any forward-looking statements, which speak only as of the date of this press release.

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¹ One ADS is equal to four ordinary shares.

² $2.00 per ADS corresponds to $0.50 per ordinary share.

³ $0.50 per ADS corresponds to $0.125 per ordinary share.