IDT Corporation Holds 2024 Annual Meeting and Declares Quarterly Dividend

IDT Corporation (NYSE: IDT) recently held its 2024 Annual Meeting of Stockholders on December 12th. The results of the meeting revealed key decisions made by the company’s stockholders.

During the meeting, shareholders participated in voting processes that determined the election of members to the Board of Directors for the upcoming term. The nominees were each elected for a one-year term based on the following votes:
– Eric F. Cosentino: 5,791,594 votes for, 650,083 votes against, 2,532 abstentions, 0 broker non-vote (89.87% votes for)
– Howard S. Jonas: 5,985,126 votes for, 456,871 votes against, 2,213 abstentions, 0 broker non-vote (92.88% votes for)
– Irwin Katsof: 6,429,197 votes for, 12,581 votes against, 2,432 abstentions, 0 broker non-vote (99.77% votes for)
– Judah Schorr: 5,878,381 votes for, 563,920 votes against, 1,909 abstentions, 0 broker non-vote (91.22% votes for)
– Elaine S. Yatzkan: 6,040,814 votes for, 401,492 votes against, 1,904 abstentions, 0 broker non-vote (93.74% votes for)

Additionally, the meeting saw approval for an advisory vote on the compensation of Named Executive Officers, with 6,380,504 votes for, 39,146 votes against, and 24,560 abstentions, garnering a 99.01% approval rating. Another advisory vote dealt with the frequency of future votes on executive compensation, with the decision leaning towards a three-year frequency based on the 90.89% votes for this option.

Following the meeting, on December 13, 2024, IDT Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.05 per share. This dividend is set to be paid out on December 31, 2024, to shareholders of record as of December 23, 2024.

IDT Corporation ensures transparency by providing this information in compliance with Form 8-K regulations set forth by the Securities and Exchange Commission (SEC). It is essential to note that this information is not considered a filing with the SEC or incorporated by reference into any further filings.

In conjunction with the aforementioned update, IDT Corporation has incorporated the information detailed in Item 7.01 into Item 8.01 as a part of additional items for consideration.

Investors and stakeholders keep an eye on IDT Corporation’s strategic decisions and financial standing as the company moves forward with these recent developments.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read IDT’s 8K filing here.

IDT Company Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.