Hsin-Chu, Taiwan, R.O.C., February 10, 2009 –TSMC’s (NYSE: TSM) Board of Directors today adopted a proposal recommending distribution of NT$3.0 cash dividend per common share and 0.5 percent stock dividend (5 shares for every 1,000 owned). The proposal will be discussed and decided at the Company’s annual shareholders' meeting scheduled for June 10, 2009.
TSMC’s Vice President and Chief Financial Officer, Ms. Lora Ho said that at its meeting today the Board of Directors:
1. Approved the 2008 Business Report and Financial Statements. Revenue for 2008 totaled NT$333.16 billion and net income was NT$99.93 billion, with earnings per share of NT$3.83.
2. Approved a proposal for distribution of 2008 profits and capitalization of capital surplus.
(1) A Cash dividend of NT$3.0 per share and 0.5% stock dividend (5 shares for every 1,000 owned) will be proposed to shareholders. Out of the 0.5% stock dividend, 0.2% will be composed of distribution of profits, and 0.3% will be composed of capitalization of capital surplus.
(2) In accordance with new accounting regulations requiring expensing of employee profit-sharing, TSMC’s 2008 net profit of NT$99.93 billion was net of employee profit-sharing expenses of NT$14.99 billion. The Board approved distribution of 50 percent of employee profit-sharing in cash and 50 percent in the form of stock, or NT$7.49 billion in cash and stock with market value of NT$7.49 billion. The number of shares to be distributed will be calculated based on the closing price of TSMC common shares on June 9, the day before TSMC’s 2009 annual Shareholder’s Meeting.
3. Approved an issuance of 146,299 new TSMC common shares as a result of employees exercising their stock options and set February 17, 2009, as the record date for the capital increase.
4. Appointed Dr. L. John Liang as the head of TSMC’s Internal Audit.
5. Approved scheduling of the 2009 annual Shareholders’ Meeting for 9:00 a.m. on June 10, 2009 at TSMC’s Fab 12 (8, Li-Hsin Rd. 6, Hsinchu Science Park, Hsinchu, Taiwan).