Techpoint announces second tranche of dividend

SAN JOSE, Calif.–(BUSINESS WIRE)–On June 2, 2022, Techpoint, Inc. (“Techpoint”) announced that on June 1, 2022, its Board of Directors declared its second cash dividend payment of a total of $0.50 per share for fiscal 2022, of which $0.25 per share was paid to shareholders in February 2022. The second installment on the shares of its common stock (including the common stock underlying its Japanese Depository Shares (“ JDS”)) will be paid on or about July 18, 2022 to shareholders of record as of June 30, 2022. The timing of receipt of dividend payments by individual holders of common stock of Techpoint and JDS will vary due to the process of payment for JDS holders. The amount paid to JDS holders will be reduced by any applicable US income tax withholding and then converted to Japanese Yen. Once the dividend is converted into Japanese yen, a distribution payment fee and any additional local tax will be paid on the amount of the distribution. As a result, the net amount of the second dividend payment that will ultimately be received by JDS holders will be less than $0.25 per JDS. Techpoint expects JDS holders to receive the second installment of the 2022 fiscal dividend on or about August 23, 2022.

Payment will be made in accordance with and subject to the terms of the Trust Agreement dated August 31, 2017 between Techpoint; Mizuho Securities Co., Ltd. ; Trust and banking company Mitsubishi UFJ; and The Master Trust Bank of Japan, Ltd., whose agreement governs the rights of JDS holders.

Techpoint’s board had previously adopted a dividend policy to permanently link the payment of dividends to corporate performance. The amount to be paid in future dividends will be reviewed by the Board of Directors, with an aggregate dividend target amount for each fiscal year equal to approximately 50% of Techpoint’s annual non-GAAP net income.1 for the previous year. Techpoint plans to make payment of future dividends in two separate installments each year. This policy may be modified or terminated at any time at the discretion of Techpoint’s Board of Directors.

About Techpoint

Techpoint, Inc. (Tokyo Stock Exchange “6697.T”) is a fabless semiconductor company that designs, markets and sells mixed-signal integrated circuits for multiple video applications in the security surveillance and monitoring markets. the automobile. Techpoint’s integrated circuits enable the transition from standard definition, or SD, video to high definition, or HD, video in the security surveillance and automotive industries. Techpoint targets specific video applications that receive and process high-definition analog video signals, including surveillance cameras, surveillance digital video recorders or DVRs, and automotive cameras. Techpoint designs application-specific products that use its HD analog transmission technology and perform advanced digital video processing to facilitate the display, transmission and storage of video content. Techpoint aims to meet the growing needs of next-generation high-definition video markets. With design centers in the United States, as well as offices in Taiwan, Korea and Japan, Techpoint has achieved cutting-edge technology in its target markets.

Forward-looking statements

Information provided in this press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are largely based on our current expectations and projections. about future events and financial trends affecting our business. These forward-looking statements include, in particular, statements about expected dividend payment dates and the timing of receipt of dividends, as well as our plans to pay dividends in the future.

These forward-looking statements can be identified by the use of words and phrases such as “expects”, “believes”, “may”, “could”, “believes”, “expects”, “expects”, ” intends”, “may”, “plans”, “projects”, “targets”, “will” and similar expressions or variations of these terms and similar expressions. In addition, statements regarding future matters and other statements regarding matters that are not historical are forward-looking statements.Investors are cautioned that these forward-looking statements relate to future events or our future performance and are subject to known and known business, economic and other risks and uncertainties. unknown, which may cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by any forward-looking statement.

These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation, the following: our future financial performance, including our revenues, the cost of sales and operating expenses; the need to address the many challenges facing our business; the potential impact of the COVID-19 pandemic on our business, including global manufacturing capacity shortages; transactions, sales and general market conditions; the competitive pressures we face; the risks associated with the execution of our strategy; and other risks that are described herein, including, but not limited to, those discussed in the “Risk Factors” section in our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our Quarterly Report on Form 10-Q We do not intend to update or change our forward-looking statements, whether as a result of new information, future events or otherwise, except if required by applicable law or regulation.

1 Non-GAAP net income is defined as net income excluding stock-based compensation expense and related tax benefit.

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