Vanguard International Semiconductor Corp (世界先進) yesterday reported net profit of NT$15.28 billion (US$503.11 million) for last year, up 9.31 percent from NT$11.82 billion a year earlier, due to robust demand in the first half of last year, it said in a filing with the Taiwan Stock Exchange.
That translated into earnings per share of NT$9.31 for the maker of display driver ICs and power management chips, up from NT$7.14 in 2021.
The chipmaker’s board of directors yesterday approved a plan to distribute a cash dividend of NT$4.5 per common share, maintaining the record high reached last year.
Photo: Reuters
That represented a payout ratio of 48.33 percent and a dividend yield of 4.81 percent, based on the company’s closing stock price yesterday of NT$93.5.
In the fourth quarter of last year, Vanguard’s net profit plunged about 35 percent quarter-on-quarter from NT$3.82 billion, while on an annual basis, it slumped about 33 percent from NT$3.72 billion to NT$2.48 billion, company data showed.
The Hsinchu-based chipmaker said demand has dwindled since the third quarter last year, as customers have entered an inventory correction cycle.
Vanguard last year reduced its factory utilization to cope with flagging demand. This year, the chipmaker plans to slash capital spending significantly from about NT$20 billion last year.
The company is to unveil its business outlook at an investors’ conference today.
Vanguard last month said that this quarter would be the trough for this year, adding that customers are expected to reduce their inventories to healthy levels next quarter and demand would pick up.
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