Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand.
The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement.
The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said.
Photo: Ann Wang, Reuters
That surpasses the NT$4.50 dividend for the fourth quarter of last year.
TSMC has said that while it is eager to expand overseas, its investments would not affect cash dividend payouts.
The ex-dividend date is set for Sept. 16, with dividends to be paid on Oct. 22, the company said.
TSMC chairman C.C. Wei (魏哲家) is expected to receive NT$34.12 million (US$1.12 million) from the 6.83 million shares he owns.
The National Development Fund, TSMC’s largest shareholder, is set to receive NT$8.27 billion in cash dividends, holding 1.65 billion shares, or a 6.38 percent stake.
In 2019, TSMC became the first Taiwanese company to issue quarterly cash dividends instead of annually. Analysts have said the change encourages investors to hold the stock longer.
The board also approved a plan to sell US$71 million and US$73 million of TSMC equipment to VisionPower Semiconductor Manufacturing Co, a subsidiary of TSMC’s affiliate.
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