TSMC Board of Directors Proposes NT$3.0 Cash Dividend Per Share
Hsinchu, Taiwan, R.O.C. February 15, 2011 The TSMC (NYSE: TSM) Board of Directors today adopted a proposal recommending distribution of a NT$3.0 cash dividend per common share. The proposal will be discussed and decided at the Companys annual shareholders' meeting scheduled for June 9, 2011.
TSMCs Spokesperson and Senior Vice President, Ms. Lora Ho, said that at its meeting today the Board of Directors:
- Approved the 2010 Business Report and Financial Statements. Consolidated revenue totaled NT$419.54 billion and net income was NT$161.61 billion, with earnings per share of NT$6.23.
- Proposed the distribution of a cash dividend of NT$3.0 per common share and submitted the proposal for approval by the 2011 Annual Shareholders Meeting. The Board of Directors also approved distribution of employees cash bonus and profit sharing totaling approximately NT$21,816.68 million. This includes cash bonus of NT$10,908.34 million distributed following each quarter of 2010 and profit sharing of NT$10,908.34 million to be distributed following the 2011 Annual Shareholders Meeting.
- Approved an issuance of 2,734,721 new TSMC common shares as a result of employees exercising their stock options and set February 22, 2011, as the record date for the capital increase
- Approved capital appropriations of US$2.9 billion for capacity expansion and fab construction.
- Approved an additional capital injection of US$5 million into TSMC Solar North America.
- Approved the convening of the 2011 Annual Shareholders Meeting for 9:00 a.m. on June 9, 2011 at TSMCs Headquarters (8, Li-Hsin Rd. 6, Hsinchu Science Park, Hsinchu, Taiwan).
- Determined the number of Directors to be nine, and approved the election of two additional independent directors at TSMCs 2011 Annual Shareholders Meeting.
- Promoted Dr. Burn Lin, Senior Director of the Nano Patterning Division under the R&D Organization, to Vice President.
TSMCs Spokesperson and Senior Vice President, Ms. Lora Ho said: As part of TSMCs strategic planning, the Board of Directors is also considering the formation of two wholly-owned subsidiaries for solar and LED businesses.
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