December 30, 2009 (FinancialWire) — Magic Software Enterprises Ltd.’s (NASDAQ: MGIC) board has declared a cash dividend in the amount of $0.50 per share and in the aggregate amount of around $16.0 million.

The dividend is payable January 25, 2010 to all of the company’s shareholders of record at the close of the NASDAQ Global Market on January 11, 2010.

In accordance with Israeli tax law, Magic will deduct 20% withholding tax of the dividend amount payable to each shareholder, subject to applicable exemptions. Magic has not established a dividend policy with respect to future dividend distributions.

Israel-based Magic Software Enterprises is a provider of multiple-mode application platform solutions including Full Client, Rich Internet Applications, Mobile or Software-as-a-Service modes – and business and process integration solutions.

The firm has offices in 10 countries and a presence in over 50, as well as a network of ISV’s, system integrators, value-added distributors and resellers, and consulting and OEM partners.

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