Estimated Payout of CHF 0.81 Per Share
NEWARK, Calif. & MORGES, Switzerland--(BUSINESS WIRE)--
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.
About Logitech
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).
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.
(LOGIIR)
Logitech International
Joe Greenhalgh
510-713-4430
Vice
President, Investor Relations — USA
or
Nancy Morrison
510-713-4948
Vice
President, Corporate Communications — USA
Source: Logitech International
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