Largan Precision Co (大立光), a supplier of smartphone camera lenses to Apple Inc, has proposed a record cash dividend per share of NT$91.5 based on last year’s earnings.
The company’s board of directors proposed the record dividend based on its net earnings of NT$182.9 per share because the company is sitting on a large amount of cash — more than NT$100 billion (US$3.5 billion) as of the end of last year, it said in a statement yesterday.
The cash dividend represents a payout ratio of about 50.03 percent, the first time in 11 years that it has surpassed 50 percent.
Photo: Chen Mei-ying, Taipei Times
Largan’s dividend payout ratio over the past decade has ranged between 30 and 40 percent.
If shareholders approve the proposal, Largan would distribute a total of NT$12.27 billion in cash dividends, its highest in history.
Based on yesterday’s closing price of NT$3,510 on the Taiwan Stock Exchange, that would translate into a dividend yield of 2.6 percent.
The company boosted its dividend payout, despite declines in consolidated sales and net profit last year.
Consolidated sales fell 8 percent from a year earlier to NT$55.94 billion and net profit fell 13 percent to NT$24.53 billion, reflecting lower sales of high-end smartphones during the COVID-19 pandemic and a loss of orders from China’s Huawei Technologies Co (華為) because of US sanctions.
Tesla Inc temporarily halted some production at its auto assembly plant in California because of problems with its supply chain, but work has begun to resume, CEO Elon Musk told employees in an e-mail on Thursday. “We are experiencing some parts supply issues, so took the opportunity to bring Fremont production down for a few days to do equipment upgrades and maintenance,” Musk said in an all-staff message seen by Bloomberg. The factory was “back up and running as of yesterday,” and would rapidly ramp up to full production of Model 3 and Model Y cars “over the next several days,”
PUNCTURE-PROOF: Air Fom tires are made of material used in sports shoe soles and offer a comfortable ride, although people are still skeptical about solid tires Getting a flat tire is a nightmare for cyclists, sending home early any rider who had ventured outdoors without a repair kit or spare inner tubes. Although punctured tires have long been a pain point for cyclists, the problem has never been effectively resolved, despite the bicycle industry going back centuries. A few products have been developed to help reduce the likelihood of flat tires: puncture-resistant tires, which are thicker than usual tires or come with a protective layer; anti-puncture tapes, which are placed between the tire and inner tube to offer extra protection; and tubeless systems that use sealant to close
LONG-TERM PLAN: The company expects growth in revenue from its automotive business this year and that it would contribute meaningfully to sales from 2023 Hon Hai Precision Industry Co’s (鴻海精密) new electric vehicle (EV) platform is expected to help launch vehicles later this year, chairman Young Liu (劉揚偉) said on Saturday, signifying major progress in the electronics giant’s push into the automotive industry. Two light vehicles designed using the company’s MIH Open Platform would be unveiled in the fourth quarter, Liu told reporters at the company’s headquarters in New Taipei City’s Tucheng District (土城). Hon Hai might at the same time also help launch an electric bus, he said. Hon Hai has been seeking to expand its automotive capabilities at a time when technology companies including
The production value of Taiwan’s semiconductor industry grew 20.9 percent year-on-year to NT$3.22 trillion (US$113.6 billion) last year, and it is expected to build on that performance this year, the Industrial Technology Research Institute’s (工研院) Industry, Science and Technology International Strategy Center said yesterday. The global semiconductor market grew 6.8 percent to US$440.4 billion last year, boosted by robust demand from the digital transformation and growing stay-at-home economy seen during the COVID-19 pandemic, the center said. That strength is likely to carry over to this year, leading to an 8.6 percent increase in domestic output to a new record NT$3.49 trillion,