Hsinchu, Taiwan, R.O.C. -- May 16, 2006 –TSMC (NYSE: TSM) today held a shareholders’ meeting at which shareholders approved the distribution of a NT$2.5 cash dividend per common share and a 3 percent stock dividend (30 shares for every 1,000 owned).
TSMC Spokesperson and Vice President Ms. Lora Ho said other major conclusions of the shareholders’ meeting were as follows:
1. Shareholders approved the 2005 Business Report and Financial Statements. Revenue for 2005 totaled NT$264.6 billion and net income was NT$93.58 billion, with earnings per share of NT$3.79.
2. Shareholders approved amendments to the Articles of Incorporation to state the number of Independent Directors and the procedure by which they are elected to the Board of Directors and Supervisors. Shareholders also amended the Articles of Incorporation to state the establishment of the Audit Committee, and to set the number of Supervisors at two to three people.
3. Shareholders elected TSMC’s 10th Board of Directors and Supervisors. The nine Directors are Morris Chang, F.C. Tseng, Jan Lobbezoo (Representative of Koninklijke Philips Electronics N.V.), Chintay Shih (Representative of the Development Fund, Executive Yuan), Rick Tsai, Stan Shih, Peter L. Bonfield, Lester C. Thurow, and Carly Fiorina. The two Supervisors are James C. Ho (Representative of the Development Fund, Executive Yuan) and Michael E. Porter. The number of independent directors was increased to four from three: Stan Shih, Lester Thurow, Peter L. Bonfield, and Carly Fiorina. All four meet the qualifications for independent board members as required by recent regulations announced by the Financial Supervisory Commission.
List of Elected Directors and Supervisors