HOLLYWOOD, Fla., June 2, 2008 (PRIME NEWSWIRE) -- STARLIMS Technologies Ltd. (Nasdaq:LIMS) announced today that its board of directors has declared a cash dividend in the amount of 1.15 new Israeli shekels (NIS) per share and in the aggregate amount of approximately NIS 10.0 million (the equivalent of approximately US$0.35 per share and approximately US$3.1 million in the aggregate). The dividend amount was determined based on the Company's 2007 net profit. The Company has not established a dividend policy with respect to future dividend distributions.
The dividend is payable June 30, 2008 to all of the Company's shareholders of record at the close of the NASDAQ Global Market on June 13, 2008. In accordance with Israeli tax law, the Company will deduct 20% of the dividend amount payable to each shareholder, subject to applicable exemptions.
The dividend will be paid in NIS on the ordinary shares of STARLIMS that are traded on the Tel Aviv Stock Exchange, and in U.S. dollars on the ordinary shares of STARLIMS that are traded on the NASDAQ Global Market. The U.S. dollar payments will be made in accordance with the NIS-U.S. dollar representative exchange rate published by the Bank of Israel on June 27, 2008.
About STARLIMS
STARLIMS Technologies Ltd. (Nasdaq:LIMS) is a leading provider of laboratory information management systems (LIMS), with over 20 years of LIMS experience. The Company's flagship product, STARLIMS(r), improves the reliability of laboratory sampling processes, supports compliance with domestic and international regulations and industry standards, and provides comprehensive reporting, monitoring and analysis capabilities. STARLIMS software is used for quality assurance and control, testing and monitoring, and research and development in government, manufacturing and life sciences organizations. With operations in the United States, Canada, the United Kingdom, Israel and Hong Kong, the Company serves over 500 organizations in 40 countries. For more information, please see http://www.starlims.com.