Fri, Mar 15, 2019 - Page 11 News List

Taiwan Business Quick Take

Staff writer

ELECTRONICS

Sinbon plans cash dividend

Sinbon Electronics Co (信邦電子), which produces cables, connectors and modems, yesterday said its board of directors had approved a proposal to distribute a cash dividend of NT$4.5 per common share based on last year’s earnings per share of NT$6.26. The proposed dividend, if approved by shareholders on June 6, would represent a payout ratio of 71.88 percent. With Sinbon shares yesterday closing at NT$90.3 in Taipei, the proposed dividend translates to a yield of 4.98 percent. The company’s consolidated sales for the whole of last year rose 19.78 percent to NT$15.65 billion (US$506.5 million), the highest in its history. Net profit grew 15.25 percent annually to NT$1.41 billion, also the highest on record.

ELECTRONICS

King Yuan approves payout

IC testing service provider King Yuan Electronics Co (京元電) yesterday said that its board of directors had approved a proposal to distribute a cash dividend of NT$1.35 per common share, based on last year’s earnings per share of NT$1.47. The distribution is subject to shareholders’ approval at the company’s annual general meeting scheduled for June 6. The company posted a 5.73 percent annual increase in revenue for last year at NT$20.82 billion, but net profit decreased 19.7 percent to NT$1.79 billion, affected by its acquisition of ailing Dawning Leading Technology Inc (東琳) in November last year and a slowdown in the semiconductor industry in the second half of the year.

MANUFACTURING

Topoint profit rises 7.3%

Topoint Technology Co Ltd (尖點科技), a manufacturer and supplier of precision processing tools for printed circuit boards, yesterday reported that its net profit for last year increased 7.3 percent year-on-year to NT$254 million, or earnings per share of NT$1.69. Consolidated revenue was flat from a year earlier at NT$3.28 billion. The company said that its board of directors had agreed to distribute a cash dividend of NT$1.2 per share, higher than the NT$0.4 it paid last year. The company is scheduled to hold its annual shareholders’ meeting on June 12 to sign off on the dividend proposal.

AUTOPARTS

Tong Yang profit plunges

Automotive metal sheet and bumper manufacturer Tong Yang Industry Co (東陽) yesterday reported NT$114 million in pretax profit for last month, down 55.12 percent from the previous month and 27.84 percent from a year earlier. In the first two months, cumulative pretax profit totaled NT$368 million, down 9.1 percent year-on-year. That translated into pretax earnings per share of NT$0.65, the company said in a statement. Revenue in the first two months decreased 16.1 percent year-on-year to NT$3.34 billion, mostly due to weak vehicle sales in China and fewer working days.

APPAREL

Makalot profit up 53.5%

Makalot Industrial Co Ltd (聚陽) yesterday reported that pretax profit for the first two months of the year rose 53.5 percent to NT$382.12 million from NT$248.86 million during the same period last year, thanks to rising shipments and better product prices. That translates into earnings per share of NT$1.82 based on the company’s 209 million outstanding shares, the company said in a filing with the Taiwan Stock Exchange. The manufacturer of ready-to-wear apparel and functional clothing said that consolidated revenue totaled NT$4.22 billion in the first two months, a 28.7 percent increase from NT$3.28 billion a year earlier.

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