Gentex: board appointment, recurring cash dividend

Gentex Corporation, the Michigan-based manufacturer of automatic-dimming rearview mirrors, announced 17 November 2003 the appointment of Wallace K. Tsuha to the company“s board of directors. Tsuha w…

Gentex Corporation, the Michigan-based manufacturer of automatic-dimming rearview mirrors, announced 17 November 2003 the appointment of Wallace K. Tsuha to the company“s board of directors. Tsuha will serve as a director until the company“s annual meeting of shareholders on 13 May 2004. The board of directors intends to nominate Tsuha for election by the shareholders at the annual meeting. Tsuha is chairman and chief executive officer of Saturn Electronics & Engineering, Inc. in Auburn Hills, Michigan, a global supplier of automotive electronics, electrical wiring, and electro-mechanical products to original equipment manufacturers (OEMs) and their first tier suppliers. “We are extremely pleased that Wally has agreed to join the Gentex board of directors,” said Gentex Chairman and Chief Executive Officer Fred Bauer. “His strong business and technical skills and entrepreneurial background provide him with the keen ability to understand our business from both a technical and financial perspective. We believe that he will truly be an asset to the company“s board and its shareholders.” Tsuha is chairman of the Asian Pacific American Chamber of Commerce. He serves on the boards of the National Minority Supplier Development Council and the Original Equipment Supplier Association (OESA). He is a member of the Minority Business Round Table, as well as the Office for the Study of Automotive Transportation. The company also stated that longtime Gentex board member Mickey Fouts has announced his retirement from the board after 22 years of service. “I“d like to recognize the many years of service on the Gentex board by Mickey Fouts. As a board member since 1982, Mickey has seen this company grow from practically nothing to over USD 400 million in annual revenue. We offer our best wishes to Mickey in the future,” Bauer concluded. The Gentex board also approved a continuing resolution to pay a quarterly cash dividend of USD 0.15 per share. The dividend payment will continue on a quarterly basis until the board decides otherwise. The next quarterly dividend of USD 0.15 per share will be payable 22 January 2004, to shareholders of record of the common stock at the close of business on 8 January2004. The ex-dividend date is 6 January2004. Due to the required period for the settlement of stock trades, shareholders must have purchased shares of Gentex common stock on or before 2 January 2004, in order to qualify for this cash dividend.