Wed, Mar 27, 2013 - Page 14 News List

Wistron’s board approves cash and stock dividends

By Kevin Chen  /  Staff reporter

Wistron Corp (緯創), the world’s third-biggest contract notebook maker, said its board yesterday approved a proposal to distribute cash dividends of NT$1.5 and a stock dividend of 5 percent.

The dividend payout was based on the company’s earnings of NT$6.67 billion, or NT$3.06 per share, last year, the company said in a filing to the Taiwan Stock Exchange.

This year’s dividend payout is lower than last year’s, when the company offered shareholders cash dividends of NT$2.2 and a stock dividend of 5 percent.

Consolidated revenue came to NT$657.85 billion last year, down slightly from a record high of NT$658.24 billion a year ago.

The cash dividend of NT$1.5 per share translated to a cash payout ratio of 49.02 percent. The figure was less than a year before, when the cash payout ratio was 50.46 percent.

With Wistron’s shares closing at NT$34.1 yesterday in Taipei trading, the planned cash dividends of NT$1.5 represented a dividend yield of 4.4 percent, higher than local banks’ fixed-term deposit interest rates.

Meanwhile, to cope with future expansion, the board also approved a fundraising proposal to issue no more than 200 million common shares or global depositary receipts.

The proceeds from the planned fundraising will also be used to repay debt, buy raw materials from overseas suppliers and strengthen its working capital, the company said in a separate filing.

The payout plan and fundraising still have to be approved at the company’s annual shareholders’ meeting on June 14.

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