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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: August 18, 2003
GENTEX CORPORATION
(Exact name of registrant as
specified in its charter)
Michigan 0-10235 38-2030505
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification no.)
incorporation)
600 North Centennial Street
Zeeland, Michigan 49464
(Address of principal executive office) (Zip Code)
Registrant's telephone number,
including area code: (616) 772-1800
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Item 7. Financial Statements and Exhibits.
Exhibit
99.1 Press release dated August 18, 2003.
Item 9. Regulation FD Disclosure.
On August 18, 2003, Gentex Corporation issued a press release announcing that a
$0.15 per share quarterly cash dividend will be paid October 17, 2003, to
shareholders of record as of October 3, 2003. A copy of the press release is
attached as Exhibit 99.1.
The information in this Form 8-K and the attached Exhibit shall not be deemed
filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be
deemed incorporated by reference in any filing under the Securities Act of 1933,
except as shall be expressly set forth by specific reference in such filing.
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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 thereunto duly authorized.
Dated: August 18, 2003 GENTEX CORPORATION
(Registrant)
By: /s/ Enoch Jen
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Enoch Jen
Vice President - Finance and
Chief Financial Officer
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EXHIBIT INDEX
99.1 Press Release Dated August 18, 2003, with respect to declaration of a
$0.15 per share quarterly cash dividend to be paid October 17, 2003.
4
Exhibit 99.1
Gentex Corporation Declares Initial Quarterly Cash Dividend
ZEELAND, Mich., Aug. 18 /PRNewswire-FirstCall/ -- Gentex Corporation, the
Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and
commercial fire protection products, today announced that its Board of
Directors approved a change in the Company's cash dividend policy and has
declared an initial quarterly cash dividend. The quarterly dividend of
$0.15 per share will be payable October 17, 2003, to shareholders of record of
the common stock at the close of business on October 3, 2003.
"It's unusual for a growth company to pay a cash dividend," said Garth
Deur, Gentex executive vice president. "However, based on The Jobs and Growth
Tax Relief Reconciliation Act of 2003, which has significantly reduced the
federal income tax rate for shareholders who receive corporate cash dividends,
the declaration of a dividend is now a more tax-efficient means of returning
value to shareholders."
Deur said that declaring a quarterly cash dividend demonstrates the Board
of Director's confidence in the Company's long-term growth opportunities,
strong net income and cash flow from operations, and solid financial
condition. He said that he believes paying a cash dividend will make Gentex
stock even more attractive to a broader range of investors.
"We are pleased to be able to return a portion of our net earnings to our
shareholders, while maintaining our significant investment in research and
development," said Deur. "In the short term, the uncertainties in the economy
and in global automotive light vehicle production schedules make it difficult
to forecast with any degree of certainty. A very early look at automotive
mirror unit shipments in calendar 2004 indicates potential growth of
approximately 10-15 percent over calendar 2003."
"Over the long term, we see significant potential for growth in our core
auto-dimming mirror business, including the addition of electronic features to
both interior and exterior mirrors. We remain committed to attracting
investors who share our enthusiasm and long-term view of the Company's growth
opportunities," said Deur.
Certain matters discussed in this news release, including growth rate
trends, future performance, and the impact of electronic features in mirrors,
are forward-looking statements which involve certain risks and uncertainties,
and are subject to change based on various market, industry and other
important factors. The Company cautions investors that numerous factors (some
of which are outlined in the Company's Form 10-K filed with the Securities and
Exchange Commission and other interim reports) and future events may affect
the Company's actual results, and may cause those results to differ materially
from those expressed in this news release. Furthermore, Gentex undertakes no
obligation to update, amend, or clarify forward-looking statements whether as
a result of new information, future events, or otherwise.
Gentex Corporation (Nasdaq: GNTX) is an international company that
provides high-quality products to the worldwide automotive industry and North
American fire protection market. The Company develops, manufactures and
markets interior and exterior automatic-dimming automotive rearview mirrors
that utilize proprietary electrochromic technology to dim in proportion to the
amount of headlight glare from trailing vehicle headlamps. More than 95
percent of the Company's revenue is derived from the sale of those products to
the world automotive industry.
Gentex was the first company in the world to successfully develop and
produce a commercial automatic-dimming rearview mirror. After more than
15 years of supplying these products in the highly competitive global
automotive industry, the Company remains the leading supplier of these
mirrors. Gentex OEM customers include Acura, Audi, Bentley, BMW,
DaimlerChrysler, Fiat, Ford, General Motors, Hyundai, Infiniti, Isuzu, Kia
Motors, Lexus, Mitsubishi, Nissan, Opel, Renault Samsung, Rover, Rolls Royce,
SsangYong Motors, Toyota and Volkswagen.
Founded in 1974, Gentex has its manufacturing facilities in Zeeland,
Michigan, and automotive sales and engineering offices in Detroit, Michigan;
Germany, Japan, the United Kingdom, France and Korea. The Company is
recognized for its quality products; for its proprietary manufacturing skills
and equipment and application of world class manufacturing principles; for its
commitment to developing and maintaining a highly skilled workforce, and for
encouraging employee ownership of the Company's stock.
SOURCE Gentex Corporation
-0- 08/18/2003
/CONTACT: Connie Hamblin, Gentex Corporation, +1-616-772-1800/
/Company News On-Call: http://www.prnewswire.com/comp/354175.html/
/Web site: http://www.gentex.com/
(GNTX)
CO: Gentex Corporation
ST: Michigan
IN: AUT
SU: DIV