Giga dividend approved
Giga Solar Materials Corp (碩禾電子), a photovoltaic (PV) conductive paste maker, yesterday said the board had approved a proposal to distribute a cash dividend of NT$6 per share, up from NT$5.55 per share last year. That bring this year’s payout ratio to 48.39 percent based on last year’s earnings of NT$12.24 per share. The dividend distribution proposal will need be approved by shareholders in an annual meeting on June 6. The board also gave the go-ahead to raise as much as NT$2 billion (US$66 million) in issuing corporate bonds. The company plans to use the proceeds to replenish operational capital.
TransAsia to sell planes
TransAsia Airways Corp (TNA, 復興航空) announced yesterday a plan to sell and lease back seven Airbus SAS’ planes to a Dutch company for a total of US$19 million in gains. The company yesterday signed an agreement with COF III Dutch Holdings on the US$72 million deal. “The airline has yet decided the actual way and timing to recognize the one-time gain, as the date of transaction has not been set,” TNA public relations vice president Alison Kao (高治華) said by telephone. In December last year, TransAsia said it was planning to sell and lease back five A321-100 and two A320-200 aircraft to lower its debt ratio. The company earned NT$133.01 million, or NT$0.24 per share, last year.