Medigen Vaccine Biologics Corp (高端疫苗) yesterday reported net profit of NT$1.41 billion (US$50.3 million) for last year and its board of directors approved a plan to distribute a stock dividend of NT$5 per share, a company regulatory filing showed.
The company turned a profit for the first time last year, thanks to sales of 5 million doses of its COVID-19 vaccine to the Ministry of Health and Welfare, and a government subsidy of NT$470 million for human testing.
Medigen, which began selling its COVID-19 vaccine in the second half of last year after being granted an emergency use authorization in July, reported that revenue expanded 298-fold to NT$3.28 billion, up from NT$11 million in 2020.
Photo: Tsai Szu-pei, Taipei Times
Earnings per share were NT$6.65 last year, compared with losses per share of NT$3.61 in 2020, the company said.
The dividend payout would be subject to shareholders’ approval at an annual general meeting on June 30, it said.
The board of directors also approved a proposal to raise funds by issuing 7 million new common shares, as the company aims to continue expanding production capacity, Medigen said.
The company expects to raise NT$1.75 billion via the new share issuance and obtain another NT$1.75 billion via a new bond issuance, it said.
Medigen expects to receive more international orders for its COVID-19 vaccine this year and aims to produce 100 million doses this year, it said.
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