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Gilat Declares a $25 Million Cash Dividend

 Gilat files 2018 Annual Report

March 18, 2019

 Gilat Satellite Networks Ltd. announced in line with its announcement on February 12, 2019, the Board of Directors has declared a cash dividend to shareholders in the amount of $0.45 per share (approximately $25 million in the aggregate). The dividend will be paid in US$ on April 11, 2019 to shareholders of record on March 28, 2019.

In accordance with Israeli tax law, the Company will withhold 25% of the gross amount of the dividend that is paid out to shareholders. Together with that, the dividend payment may be subject to certain applicable exemptions (including the exemption for distribution of dividends to Israeli corporations which are exempt from Israeli withholding tax) and tax reliefs. Also, a shareholder who is a resident of a country with which Israel has a tax treaty may be subject to a different withholding tax rate with respect to the dividend. For that purpose, the Company has appointed IBI Trust Management as a paying agent, which will act in accordance with the Israeli Tax Ordinance. A shareholder who holds his or her shares other than through an Israeli financial institution and who is subject to a lower tax rate as a resident of a country with which Israel has a treaty for the avoidance of double taxation may contact the paying agent to inquire about his or her eligibility to a lower tax rate. Such shareholder may submit to the paying agent the documentation as will be specified in the instructions letter which, following receipt of tax ruling from the Israeli tax authority, will be posted on the Company’s website under the “Investors Relations” tab. Subject to complying with the applicable requirements and submitting all the required documents, the paying agent will transfer the tax amount difference to the shareholder’s bank account in the manner specified in the instructions letter. The paying agent contact details are IBI-CM@IBI.co.il, telephone: +972-50-620-9410, 9 He’had Ha’am St., Tel-Aviv, Israel.

Gilat also announced that it has filed today its Annual Report on Form 20-F containing audited consolidated financial statements for the year ended December 31, 2018 with the U.S. Securities and Exchange Commission.