Dividend Policy

Should there be a surplus after annual settlement, the accumulated deficit shall be offset first, 10% shall then be provided as legal reserve. However, this may not be necessary if the legal reserve has reached the paid-up capital of the Company. After provision, or reversal of the special reserve, the residual surplus becomes distributable profit for shareholders together with the undistributed accumulated profit at the beginning of the period. Distribution will be proposed by the Board of Directors to the Shareholder Meeting for resolution.

The Company dividend policy takes into account all operations, the budgets for capital expenses, future demands for funds, and long-term financial planning, as well as the interests of the shareholders and the dividend balance established by the Board of Directors. Without any other special consideration, the current dividend policy is to distribute at least 50% of the earnings after tax for the year. The distribution of profit is in the form of cash or share dividends, while the cash dividends are not less than 10% of the dividend total. However, this percentage is subjected to adjustment depending on the overall operational performance for the year.

Distribution of Earnings over the Previous 5 Years

Earnings YearEarnings Per ShareCash Dividend Disbursement DateCash DividendsStock DividendDividend Yield
2019 4.80 2020/08/21 2.40 0.00 50%
2018 4.12 2019/08/23 2.40 0.00 59%
2017 4.67 2018/08/08 3.20 0.00 69%
2016 4.40 2017/07/28 2.50 0.00 57%
2015 4.06 2016/08/24 2.10 0.00 52%