UMC board approves plans
United Microelectronics Corp (UMC, 聯電), the world’s No. 3 contract chipmaker, yesterday said that its board has approved a proposal to issue a cash dividend of NT$0.5 per share. That represents a 49.5 percent payout ratio, compared with the earnings per share of NT$1.01 that UMC recorded last year. The board also approved a plan to sell 1.27 billion new common shares via private placement, as the firm seeks to form strategic technological partnerships, UMC said. The issuance will take the form of common shares, corporate bond, or overseas depository receipts. UMC is scheduled to hold an annual shareholder’s meeting on June 11 to review both proposals.
TPK board tables payout plan
Touchpanel supplier TPK Holding Co (宸鴻) on Tuesday said its board has proposed paying a NT$5 per share cash dividend to shareholders on the earnings per share of NT$21.21 it posted last year, representing a 23.57 percent dividend payout ratio. The proposed dividend is far lower than the NT$21 dividend TPK paid to shareholders in 2012, when it posted earnings per share of NT$43.89. The panel supplier’s board also approved a proposal to raise about NT$6 billion (US$197.6 million) in funds through a rights issue, or global depositary receipts issuance. TPK has set an annual general meeting for May 29 in which it will seek shareholders’ approval for the proposals.