Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday raised its proposed cash dividend for last quarter to NT$2.75 per share from NT$2.5 a year earlier, given the company’s increased earnings.
That represents a payout ratio of about 51 percent based on its earnings per share of NT$5.39 in the first three months of this year.
TSMC said that its board of directors approved the cash dividend distribution yesterday.
Photo: Grace Hung, Taipei Times
The Hsinchu-based chipmaker reassured its investors that it intends to maintain a stable and sustainable dividend policy.
The company said that it would issue at least NT$2.5 a share each quarter this year and no less than NT$10 per share for the whole year, which was about what it issued last year.
TSMC’s board also approved capital appropriations of US$9.29 billion to install and upgrade advanced and specialty technology capacity, and for fab construction and fab facility systems, as well as investments in research and development and sustaining capital expenditures for the third quarter, the company said in a statement.
The board yesterday approved postponing its annual shareholders’ meeting until July 26. TSMC rescheduled the meeting, as the Financial Supervisory Commission has banned listed companies from holding shareholders’ meetings until the end of this month to avoid COVID-19 cluster infections.
The board yesterday also approved the promotion of Jonathan Lee (李俊賢) to vice president. Lee was a senior director of the company’s corporate planning organization.
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