Evergreen Aviation Technologies Corp’s (EGAT, 長榮航太) shareholders yesterday approved a proposal to distribute a cash dividend of NT$4 per share, implying a payout ratio of 89 percent based on last year’s earnings per share of NT$4.48, the company said.
That also translates into a dividend yield of 3.4 percent based on the company’s closing share price of NT$117.50 in Taipei trading yesterday.
It would be EGAT’s highest cash payout, compared with last year’s NT$2 per share, as its net profit expanded 79 percent year-on-year to NT$1.58 billion (US$51.1 million) last year, company data showed.
Trading of EGAT shares moved from the emerging market to the Taiwan Stock Exchange’s main board in March.
EGAT is one of the nation’s leading aircraft maintenance, repair and overhaul firms, serving more than 40 airlines.
The company is upbeat about its outlook for this year, as its repair and manufacturing businesses should benefit from a spike in air travel after the lifting of COVID-19 restrictions, chairman Huang Nan-horang (黃南宏) told a shareholders’ meeting in Taipei.
The International Air Transport Associations expects global air travel to rebound to 93 percent of the level before the COVID-19 pandemic, and to fully recover next year, EGAT said.
For its repair and maintenance section, EGAT gained new orders from Western Global Airlines, Austrian Airlines and Peach Aviation, while also extending its contract with All Nippon Airways to 2027, Huang said.
It also received a new contact from United Parcel Service to repair its logistics service jets, he added.
As some of its clients have announced plans to purchase new cargo jets, EGAT expects to receive more orders for this year, the company said.
For its manufacturing section, the company gained new orders from General Electric Co and Boeing Co, and its applications to produce military drones for the government is under review, the company said.
Revenue from its repair and maintenance business made up 77.8 percent of EGAT’s revenue last year, while that from manufacturing accounted for 22 percent, company data showed.
EVA holds a 55.05 percent stake in EGAT, with the remaining shares owned by UNI Airways (立榮航空), Fubon Life Insurance Co (富邦人壽), CTBC Venture Capital Co (中國信託創投) and CDIB Venture Capital Corp (中華開發創投).
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