SOURCE: MIND CTI Ltd.

March 01, 2010 09:05 ET

MIND CTI Updates on Expected Dividend

*MIND Updates on Fourth Quarter and Full Year 2009 Reporting Date

YOQNEAM, ISRAEL--(Marketwire - March 1, 2010) -   MIND C.T.I. LTD. (NASDAQ: MNDO), a leading provider of convergent end-to-end billing and customer care product based solutions for service providers as well as telecom expense management (call accounting) solutions, today announces that it has received court approval for the expected dividend. 

In July 2003, the Board of Directors had adopted our dividend policy. We have since distributed yearly cash dividends six times and one special dividend as well. We intend to continue to distribute dividends based on factors that include our cash flow, our cash position and our activities.

On December 30, 2009 the Board of Directors resolved that the Company should seek court approval formally required in order to enable a distribution for the year 2009, in an amount similar to previous years, of 20 cents per share. As anticipated, we have received lately the required court approval. Prior to paying any dividend, which is still subject to specific Board approval, the Company will issue a press release announcing the exact dividend amount, record date and distribution date.

MIND updates that it will release financial results for its fourth quarter and full year 2009, reflecting the period ended December 31, 2009, on Monday, March 15, 2010, during pre-market hours. The financial results will be released over the news wires, and will also be posted on the corporate Website.

About MIND
MIND CTI Ltd. is a leading provider of convergent end-to-end billing and customer care product based solutions for service providers as well as telecom expense management (call accounting) solutions. MIND provides a complete range of billing applications for any business model (license, managed service or complete outsourced billing service) for Wireless, Wireline, VoIP and Quad-play carriers in more than 40 countries around the world.

A global company, with over twelve years of experience in providing solutions to carriers and enterprises, MIND operates from offices in the United States, UK, Romania and Israel.

For more information, visit MIND at: www.mindcti.com.

Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward-looking statements." These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward-looking statements involve risks, uncertainties, and assumptions, including the risks discussed in the Company's filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information.

Contact Information

  • For more information please contact:
    Andrea Dray
    MIND CTI Ltd.
    Tel: +972-4-993-6666
    Email Contact