Thu, Jun 13, 2019 - Page 12 News List

Camera lens maker Largan expects rise in orders in July

Staff writer, with CNA

Largan Precision Co (大立光) yesterday said it expects an increase in orders as the peak season for the consumer electronics market begins next month.

Despite an escalating trade dispute between the US and China, the camera lens modules supplier would likely report higher sales next month than this month, Largan chief executive officer Adam Lin (林恩平) said after the company’s annual general meeting in Taichung.

The company, which counts Apple Inc among its clients, last week warned that revenue could fall this month compared with last month because of weakening demand.

Largan is sticking to its plan to expand production capacity in the second half of the year, Lin said.

At the meeting, shareholders approved the company’s proposal to issue a cash dividend of NT$68 per share, the highest among all listed companies in Taiwan, but lower than the cash dividend of NT$72.5 it distributed last year.

Based on Largan’s earnings per share of NT$181.67 for last year, the dividend payout ratio was 37.43 percent, within the high end of the company’s target payout ratio range of between 35.2 and 37.4 percent.

That implies a dividend yield of about 1.9 percent, based on its closing price of NT$3,575 in Taipei trading yesterday.

Shareholders also approved a reshuffle of Largan’s board of directors, which allowed the family of company cofounder Scott Lin (林恩舟) to take three of the five seats assigned to non-independent board members.

Analysts said the board reshuffle is expected to stabilize Largan’s ownership by reducing the odds of a fight among majority shareholders for control.

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