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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For May 12, 1997
NAM TAI ELECTRONICS, INC.
(Registrant's name in English)
Unit 9, 15/F, Tower 1
China Hong Kong City, 33 Canton Road
TST, Kowloon, Hong Kong
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NAM TAI ELECTRONICS, INC. CONTACT: WENDY L. WISEMAN
SUITE 530 - 999 WEST HASTINGS STREET P.R. SECRETARY
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831 NEWS RELEASE
INTERNET WEBSITE: http://www.namtai.com
NAM TAI ELECTRONICS, INC. ANNOUNCES
DIVIDEND INCREASE UPON STRONG SALES GROWTH
VANCOUVER, CANADA May 12, 1997 -- Nam Tai Electronics, Inc. ("Nam Tai" or the
"Company") (NASDAQ Symbol: NTAIF, TSE Symbol: NMT) today announced its annual
dividend of $0.10 per share. The dividend is payable to all shareholders of
record at the close of business on May 30, 1997. The dividend will be paid on or
before June 20, 1997. As previously announced, the Company intends to adopt the
policy of increasing its dividend on a year by year basis of not less than 20%
over the next several years to a level consistent with other established
profitable corporations. The dividend announced today represents a 330% increase
over the dividend of $0.03 per share paid for 1996.
Since the dividend was reinstated in February 1994 the Company has increased it
annually. The Company paid an annual dividend of $0.01, $0.015 and $0.03 per
share in 1994, 1995 and 1996, respectively.
Mr. M.K. Koo, Chairman, announced. "The Company is also pleased to
announce we are on track for excellent sales growth in the second
quarter. We are confident Nam Tai will achieve significant sales
and net income growth for 1997 over 1996 and are happy to reward our
shareholders with an increase in our dividend."
Nam Tai is a full service contract manufacturer which provides hardware and
software design, plastic moulding, component purchasing, assembly, quality
control and shipping services to major original equipment manufacturers ("OEMs")
from Japan and North America. The Company makes use of highly advanced
technology at its ISO 9001 certified facilities in Shenzhen, China. It also
maintains marketing and administrative operations in Hong Kong and Vancouver,
Canada, respectively. The Company's electronic products include personal
organizers, spell checkers, dictionaries, calculators and IC Card Readers as
well as complex electronic subassemblies and components. The Company's customers
include Canon, Casio, Citizen, Matsushita Battery, Nintendo (which orders
through Sharp), Optrex, Radio Shack, Sanyo Electric, Seiko Instruments, Sharp
and Texas Instruments.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
For and on behalf of
Nam Tai Electronics, Inc.
by
(S.d.) M.K. Koo
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M.K. Koo, Chairman
Date: May 21, 1997
