Page 64 - TSMC 2018 Annual Report

4 1 1 10 Share Information
TSMC’s TSMC’s earnings per per share share in in in in 2018 increased 2 2 2 3% from 2017 to NT$13 54 per per share share The following table details TSMC’s TSMC’s market price net worth earnings and dividends per common share as as well as as other data regarding return on
on
investment Market Price Net Worth Earnings
and Dividends Per Common Share Unit: NT$ except for weighted average shares and return on
investment ratios
Highest Market Price Lowest Market Price Average Market Price Before Distribution After Distribution Weighted Average Shares (thousand shares) Diluted Earnings
Per Share Cash Dividends Accumulated Undistributed Dividend Price/Earnings Ratio (Note 2) Price/Dividend Ratio (Note 3) Cash Dividend Yield (Note 4)
Note 1: Referred to TWSE website
Note 2: Price/Earnings Ratio = Average Market Price/ Price/ Diluted Earnings
Earnings
Per Share Note 3: Price/Dividend Ratio = Average Market Price/Cash Dividends Per Share Note 4: Cash Cash Dividend Dividend Yield = Cash Cash Dividends Per Share/Average Market Price Note 5: Pending shareholders' approval
4 1 1 1 11 Dividend Policy and Distribution of Earnings
239 50 208 00 224 25
- - - - - - - - - Item
2017 2018 01/01/2019 - 02/28/2019
Market Price Per Share (Note 1)
244 00 266 00 179 50 212 00 210 09
237 45
Net Worth Per Share 58 70
64
67
50 70
56 67
(Note 5)
Earnings
Per Share 25
930 380
25
930 380
13 23 13 54 Dividends Per Share 8 00 8 00 (Note 5)
- 17 54 - Return on
Investment
15 88
26 26 26 26 29 68 (Note 5)
3 8%
3 4% (Note 5)
62
TSMC TSMC does not pay dividends dividends when there are no no profits or retained earnings TSMC TSMC has distributed cash dividends dividends every year to its its shareholders since 2004 Payment of of dividends (including in in in in in in in cash and in in in in in in in stock) in in in in in in in respect of of the prior year is made following approval
by the annual general meeting of shareholders The R O C C Company Act amended in in August 2018 allows a a a a a a a a a a a company as authorized by its its Articles of of Incorporation to to to to distribute dividends on
on
a a a a a a a a a a a quarterly basis basis or or or or a a a a a a a a a a a semi-annual basis basis and to to to to have its its board of of directors to to to to approve the dividends in in cash On February 19 19 2019 TSMC’s board of of directors adopted a a a a a a a a proposal recommending distribution of of a a a a a a a a 2018 cash dividend of of NT$8 per common share and resolved to submit the the proposal for approval
by the the annual general meeting of of shareholders to to to be be held on
June 5 2019 as shown in the table below TSMC’s board of directors also resolved to to to submit for approval
at the the the annual general meeting of of shareholders the the the proposed amendments to to TSMC’s Articles of of Incorporation to to authorize the the the Company’s board of of of directors to to to approve cash dividends after the the close of of of each quarter Subject to to to the the shareholders’ approval
of of of such amendments TSMC’s board board of directors will will approve each quarter’s quarter’s dividend dividend in in in the the following quarter’s quarter’s board board meeting after which the the dividend dividend will will be distributed within six months TSMC’s board of of directors plans to to approve a a a a a a cash dividend of of NT$2 per common share for the first quarter quarter quarter of of of of 2019 2019 2019 in in the the second quarter quarter quarter of of of of 2019 2019 2019 which will be paid in in the the fourth quarter quarter quarter of of of of 2019 2019 2019 Therefore all shareholders of of of of TSMC are are expected to to to receive a a a a a a cash dividend dividend of NT$10 per share in in in in total in in in in 2019 In the future TSMC intends to to to continue its stable dividend dividend policy and and return about 70% of free cash flow to to shareholders every year As the Company’s business continues to to grow and and generates greater amounts of free cash cash cash flow it expects to to maintain a a a a a a a a a a a a a sustainable quarterly cash cash cash dividend dividend and to to distribute the cash cash cash dividend dividend each year year at a a a a a level not lower than the year year before