Cyngn declares pro rata dividend of common stock

Cyngn announced that its board of directors has approved a pro rata 10% dividend of its common stock. The dividend will be paid on October 30, 2023 to all holders of record of the company’s common stock as of the close of business on October 23, 2023. Stockholders will receive one share of Cyngn common stock for every ten shares of Cyngn common stock they hold on the Record Date. Fractional shares of Cyngn common stock will not be distributed to Cyngn stockholders. Instead, the fractional shares of Cyngn common stock will be rounded up to receive one whole share of Cyngn common stock.