SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
________________________
 
FORM 6-K/A
 
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
 
For the month of November 2023
 
Commission File Number 001-32618
 
Ituran Location and Control Ltd.
(Exact name of Registrant as specified in its Charter)
________________________
 
3 Hashikma Street, Azour 58001, Israel
(Address of Registrant’s principal executive offices)
________________________
 
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒      Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1):
Yes ☐      No ☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7):
Yes ☐      No ☒
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐      No ☒
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): ______


EXPLANATORY NOTE
 
This Report of Foreign Private Issuer on Form 6-K/A (the “Amended Report”) is furnished to amend the Report of Foreign Private Issuer furnished to the Securities and Exchange Commission on November 27, 2023 (the “Original Report”). This amended report amends the amount of the dividend distribution in the Original Report's headline to $5 million in place of $3 million.
 
The information set forth in the headline of page 1 of the Original Report is amended and replaced as follows:
 
ITURAN LOCATION AND CONTROL LTD
ANNOUNCES DISTRIBUTION OF A $5 MILLION DIVIDEND
 
SIGNATURE
 
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, thereto duly authorized.
 
 
ITURAN LOCATION & CONTROL LTD.
(Registrant)

By: /s/ Eyal Sheratzky                
       Name:  Eyal Sheratzky
       Title:    Co-Chief Executive Officer

Date: November 27, 2023
EXHIBIT INDEX
 
Exhibit 99.1 Item

 
Exhibit 99.1

ITURAN LOCATION AND CONTROL LTD

ANNOUNCES DISTRIBUTION OF A $5 MILLION DIVIDEND

Azour, Israel, November 27, 2023 – Ituran Location and Control Ltd. (NASDAQ: ITRN) announced that the Board of Directors approved the distribution of a cash dividend in the amount of $0.24 per share, totaling approximately US$5 million. The dividend will be paid to shareholders of record as of December 20, 2023. The Company will pay the dividend out on January 4, 2024 net of taxes at the rate of 25%.

In its decision to approve the distribution of the cash dividend, the Board of Directors examined whether the Company meets the distribution criteria according to Israeli law. The Board of Directors concluded that the abovementioned distribution will not undermine the Company’s ability to keep performing in its current course of business or future, plans and is able to meet its undertakings when due.

Retained earnings as of September 30, 2023, prior to the distribution was US$ 196.3 million and retained earnings will reach US$ 191.3 million after the distribution. The Board of Directors emphasized that as of September 30, 2023, the Company had a cash balance in hand of US$ 39.9 million (this amount is prior to the payment of a dividend of approximately US$3 million which was issued for the second quarter 2023 and was paid out in October 2023). The Company also had long-term loan of US$0.3 million and credit from banking institutions of US$ 1.7 million. As of September 30, 2023, the Company’s current assets (excluding cash and cash equivalents) were in the sum of US$ 123.6 million and current liabilities were in the sum of US$ 84.7 million.

About Ituran

Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected-car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management & control services for vehicles, cargo and personal security for the retail, insurance industry and car manufacturers. Ituran is the largest OEM telematics provider in Latin America. Its products and applications are used by customers in over 20 countries. Ituran is also the founder of the Tel-Aviv based DRIVE startup incubator to promote the development of smart mobility technology.

Ituran's subscriber base has been growing significantly since the Company's inception to over 2 million subscribers using its location-based services with a market leading position in Israel and Latin America. Established in 1995, Ituran has approximately 2,700 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Columbia, India, Canada and the United States.

For more information, please visit Ituran’s website, at: www.ituran.com

Company Contact
  
International Investor Relations

Udi Mizrahi
udi_m@ituran.com
Deputy CEO &VP Finance, Ituran
(Israel) +972 3 557 1348
  

Ehud Helft
ituran@ekgir.com
EK Global Investor Relations
(US) +1 212 378 8040


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