EXHIBIT 99.1
[NAM TAI LOGO/PRESS RELEASE LETTERHEAD]
NAM TAI ELECTRONICS, INC.
RAISES ANNUAL DIVIDEND FROM $0.20 TO $0.48
VANCOUVER, CANADA -- February 9, 2004 -- Nam Tai Electronics, Inc. ("Nam Tai" or
the "Company") (NYSE Symbol: NTE; CBOE Symbol: QNA; Frankfurt Stock Exchange
Symbol: 884852) today announced that for the eleventh consecutive year it is
increasing its dividend. The annual dividend will increase from $0.20 per share
for 2003 (after adjustment for the 3 for 1 stock split in June 2003) to $0.48
per share for 2004. The increase in dividend shows Nam Tai's confidence for
continued growth.
The payment dates and record dates for the quarterly dividend of $0.12 per share
payable in each quarters for 2004 are as follows:
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Record Date Payment Date
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1 March 31, 2004 On or before April 21, 2004
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2 June 30, 2004 On or before July 21, 2004
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3 September 30, 2004 On or before October 21, 2004
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4 December 31, 2004 On or before January 21, 2005
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Regarding special dividend, the Board of Directors of Nam Tai will consider
various factors in deciding if to declare any special dividend on any other
income. Such factors include but are not limited to cash position of the Company
at the material time, any cash generated from other income, and also consider
any finance is necessary for investment projects on hand. If there is any
special dividend, the Company will put in an announcement accordingly.
Annual General Meeting Record Date
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The Company will hold its Annual Shareholders Meeting on Friday, June 11, 2004
at 11:30 a.m. in New York, Peninsula Hotel. The record date is May 7, 2004.
Board Meetings and Analysts Conference Calls
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The Board Meetings for approving the quarterly results and the analysts
conference calls therefore for each quarter of 2004 are as follows:
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Date of Board Meeting Date and Time of Analysts Conference Call
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1st Quarter April 30, 2004 May 3, 2004 10:00 a.m. Eastern Time
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2nd Quarter July 30, 2004 August 2, 2004 10:00 a.m. Eastern Time
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3rd Quarter October 29, 2004 November 1, 2004 10:00 a.m. Eastern Time
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4th Quarter February 4, 2005 February 7, 2005 10:00 a.m. Eastern Time
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About Nam Tai
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We are an electronics manufacturing and design services provider to original
equipment manufacturers of telecommunications and consumer electronic products.
Through our electronics manufacturing services operations, we manufacture
electronic components and subassemblies, including LCD panels, LCD modules,
radio frequency modules, flexible printed circuit subassemblies and image
sensors. These components are used in numerous electronic products, including
cellular phones, laptop computers, digital cameras, copiers, fax machines,
electronic toys, handheld video game devices and microwave ovens. We also
manufacture finished products, including cellular phones, palm-sized PCs,
personal digital assistants, electronic dictionaries, calculators and digital
camera accessories for use with cellular phones.
Safe Harbor
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Certain statements in this press release are "forward-looking statements" within
the meaning of U.S. federal securities laws. Nam Tai intends that these
statements be covered by the safe harbors created under these laws. These
forward-looking statements are subject to risks, uncertainties and other factors
that could cause actual results to differ materially from future results
expressed or implied by the forward-looking statements. Many of these factors
are beyond Nam Tai's ability to control or predict. Given these uncertainties,
readers are cautioned not to place undue reliance on the forward-looking
statements, which only speak as of the date of this press release. Nam Tai does
not undertake any obligation to release publicly any revisions to these
forward-looking statements to reflect events or circumstances after the date of
this press release or to reflect the occurrence of unanticipated events, except
as may be required under applicable securities laws.
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