Kaohsiung-based screw manufacturer Sheh Fung Screws Co (世豐螺絲) yesterday said it is positive about its business prospects, thanks to robust demand from home improvement projects and increased infrastructure spending abroad.
Sheh Fung shed light on its prospects during a shareholders’ meeting, which approved the company’s proposal to distribute a stock dividend of 10 percent and a cash dividend of NT$1.97 per share based on last year’s net income of NT$152 million (US$5.42 million), or NT$3.71 per share. That would translate into a payout ratio of nearly 80 percent.
Demand from do-it-yourself home improvement projects remains healthy in the US, and US President Joe Biden’s massive infrastructure spending program would further lend support, it said.
The company also expects its products to benefit from a pickup in the property market and increased building applications.
The US accounted for 74 percent of its sales in the first quarter, while Asia contributed 10 percent, it said.
Sheh Fung has not released its second-quarter results.
It said it is in talks with customers to raise prices to reflect increases in production costs.
Screw material suppliers have said they intend to increase selling prices this quarter, it added.
The company aims to strengthen its product lineup and inventory management to boost its proficiency, it said.
Shares of Sheh Fung edged up 0.19 percent to close at NT$52.50 in Taipei trading yesterday, outperforming the TPEX’s 0.07 percent gain, Taipei Exchange data showed.
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