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IDT Corporation (NYSE:IDT), a telecommunications firm with a market capitalization of $1.26 billion and an "GREAT" financial health rating according to InvestingPro, disclosed the outcomes of its Annual Meeting of Stockholders and declared a quarterly dividend in a recent SEC filing. On Monday, the company's stockholders participated in the election of board members and advisory votes on executive compensation.
The election saw all nominees to the Board of Directors secure their positions with a significant majority. Eric F. Cosentino received 89.87% of the votes, Howard S. Jonas received 92.88%, Irwin Katsof received 99.77%, Judah Schorr received 91.22%, and Elaine S. Yatzkan received 93.74%.
Additionally, an advisory vote on the compensation of Named Executive Officers passed with 99.01% approval. The frequency of future advisory votes on executive compensation was also determined, with a three-year interval preferred by 90.89% of the votes. The company's strong governance practices complement its impressive financial performance, with InvestingPro data showing a 58.21% return over the past year.
In a separate item, IDT Corporation announced a quarterly cash dividend of $0.05 per share, payable on December 31, 2024, to stockholders of record as of December 23, 2024. The company maintains a conservative 0.4% dividend yield while holding minimal debt, with a debt-to-equity ratio of just 0.01, according to InvestingPro data.
This information, provided in accordance with Regulation FD, is not considered filed with the SEC nor incorporated by reference into any other SEC filings.
The company, headquartered in Newark, New Jersey, and incorporated in Delaware, is recognized under the Standard Industrial Classification as a provider of telephone communications, excluding radio telephone.
This report is based on the company's Form 8-K filing with the U.S. Securities and Exchange Commission.
In other recent news, IDT Corporation has reported strong financial performance for the first quarter of fiscal year 2025. The company surpassed earnings expectations, with a Q1 EPS of $0.71, and achieved record levels in gross profit and adjusted EBITDA. Revenue also continued its upward trend for the third consecutive quarter, reaching $309.6 million.
The company's NRS segment saw increased adoption of payment processing services, contributing to the positive financial results. Despite challenges from foreign exchange fluctuations impacting international operations, IDT Corporation remains focused on U.S. market expansion and product innovation.
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