SPNS Sapiens International Corporation NV

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON D.C. 20549

 

FORM 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

 

For the month of August 2024

 

Commission File Number 000-20181

 

SAPIENS INTERNATIONAL CORPORATION N.V.

(Translation of registrant’s name into English)

 

Azrieli Center

26 Harokmim St.

Holon, 5885800 Israel

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒         Form 40-F ☐

 

 

 

CONTENTS

 

Dividend Declaration

 

On August 15, 2024, Sapiens International Corporation N.V. (“Sapiens” or the “Company”) issued a press release entitled “Sapiens Declares Cash Dividend of $16.2 Million, or $0.29 Per Share—For the First Half of 2024”, in which Sapiens announced a dividend in respect of its results of operations for the first half of the year ending on June 30, 2024. A copy of that press release is furnished as Exhibit 99.1 hereto.

 

In the foregoing press release, Sapiens announced that its board of directors had approved the distribution of a cash dividend of $0.29 per share, or $16. 2 million in total. The dividend is in line with the Company’s policy of distributing, on a semi-annual basis, up to, in the aggregate, 40% of its annual non-GAAP net income. The dividend will be paid on September 12, 2024 to Sapiens’ shareholders of record as of August 28, 2024. The dividend is subject to withholding of Israeli tax at source at the rate of 25% of the dividend amount payable to Israeli individuals, and non-Israeli shareholders of record.

 

Exhibits

 

The following exhibit is furnished as part of this Form 6-K:

 

Exhibit		Description
99.1		Press release issued by Sapiens on August 15, 2024, entitled “Sapiens Declares Cash Dividend of $16.2 Million, or $0.29 Per Share—For the First Half of 2024”

 

 

SIGNATURES

 

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.

 

	SAPIENS INTERNATIONAL CORPORATION N.V.
Date: August 15, 2024	By:	/s/ Roni Giladi
		Name:	Roni Giladi
		Title:	Chief Financial Officer

 

 

2

 

Exhitbit 99.1

 

 

 

SAPIENS DECLARES CASH DIVIDEND OF $16.2 MILLION, OR $0.29 PER SHARE FOR THE FIRST HALF OF 2024

 

Rochelle Park, NJ, August 15, 2024 -- Sapiens International Corporation N.V. (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that its board of directors has approved the distribution of a cash dividend of $0.29 per share, or $16.2 million in total, based on 2024 first half results. The dividend is in line with the company’s policy of distributing on a semi-annual basis up to 40% of its annual non-GAAP net income and will be paid on September 12, 2024, to Sapiens’ shareholders of record, as of August 28, 2024. The dividend is subject to withholding of Israeli tax at source at the rate of 25% of the dividend amount payable to each shareholder of record.

 

“This dividend distribution to Sapiens’ shareholders highlights our company’s strong financial performance and our unwavering confidence in our strategic execution,” stated Roni Al-Dor, President & CEO of Sapiens. “We extend our gratitude to our shareholders, customers, partners, and employees for their continued support.”

 

About Sapiens

 

Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. With more than 40 years of industry expertise, Sapiens’ cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data and digital domains to accelerate our customers’ digital transformation. Serving over 600 customers in more than 30 countries, Sapiens offers insurers across property and casualty, workers’ compensation, and life insurance markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit www.sapiens.com or follow us on LinkedIn.

 

Investors and Media Contact

 

Sapiens

Yaffa Cohen-Ifrah

Chief of Marketing Officer and Head of Investor Relations, Sapiens

Mobile: +1 917 533 4782

Email: yaffa.cohen-ifrah@sapiens.com

 

Hayden IR

Kimberly Rogers
Managing Director, Hayden IR
+1 541-904-5075
kim@HaydenIR.com

 

 

www.sapiens.com

 

 

 

 

Forward Looking Statements

 

Certain matters discussed in this press release that are incorporated herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “may,” “will,” “plan” and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to:  the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; the global macroeconomic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers’ systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the coronavirus epidemic,  and fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.

 

While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission on March 26, 2024, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.

 

 

www.sapiens.com

 

 

 

 

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