Vanguard International Semiconductor Corp (世界先進), a supplier of display driver ICs and power management chips, yesterday said that its board of directors approved the distribution of a record cash dividend of NT$4.5 per share following a record net profit.
The Hsinchu-based chipmaker’s net profit last year increased 87 percent to NT$11.82 billion (US$425 million), up from NT$6.31 billion in 2020, due to supply constraints, a company filing with the Taiwan Stock Exchange showed.
That translated into earnings of NT$7.21 per share, up from NT$3.85 a year earlier.
Photo: Grace Hung, Taipei Times
The proposed cash dividend surpasses the NT$3.5 per share distributed last year. It represents a payout ratio of 62 percent, which is lower than last year’s 90 percent as the company needs reserve cash to fund a large capacity expansion.
Vanguard last year budgeted NT$8.5 billion to NT$9 billion for capital expenditure, as demand continued to outstrip supply.
The distribution must be approved at the annual shareholders’ meeting on June 14.
In a separate statement yesterday, Vanguard reported revenue of NT$4.18 billion last month, down 9.23 percent from NT$4.6 billion in December, as wafer shipments fell due to fewer working days over the Lunar New Year holiday, but up 50.33 percent from NT$2.78 billion a year earlier.
Vanguard is to release financial details for last year in an online quarterly investors’ conference today.
Separately, Powerchip Semiconductor Manufacturing Corp (力積電) on Tuesday posted net profit of NT$16.09 billion for last year, up from NT$3.81 billion in 2020, or earnings per share of NT$4.92, up from NT$1.23 in 2020.
Powerchip’s management team proposes to distribute a cash dividend of NT$1.83, which represents a payout ratio of 37.2 percent.
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