Page 64 - TSMC 2019 Annual Report

4 1 1 10 Share Information
TSMC’s TSMC’s earnings per per share share in in in 2019 decreased 1 1 1 1 7% from 2018 to NT$13 32 per per share share The following table details TSMC’s TSMC’s market price net worth earnings and dividends per common share as as well as as other data regarding return on
on
investment Market Price Net Worth Earnings and Dividends Per Common Share Unit: NT$ except for weighted average shares and return on
investment ratios
Highest Market Price Lowest Market Price Average Market Price Net Worth Per Share Before Distribution
After Distribution
Earnings Per Share Weighted Average Shares (thousand shares)
Diluted Earnings Per Share Dividends Per Share Cash Dividends Accumulated Undistributed Dividend Return on
Investment
Price/Earnings Ratio (Note 2)
Price/Dividend Ratio (Note 3)
Cash Dividend Yield (Note 4)
266 00 00 345 00 00 212 00 00 208 00 00 237 45
261 73
64
67 62 53
56 67 60 03 (Note 5)
25 25 930 930 380 380 25 25 930 930 380 380 13 13 54 13 13 32 8 00 9 50 (Note 5)
- - - - 17 54 19 65
29 68 27 55 (Note 5)
3 3 4% 3 3 6% (Note 5)
346 00 315 00 329 71
Item
2018 2019 01/01/2020 - 02/29/2020
Market Price Per Share (Note 1)
- - - - - - - - - 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: Including the dividends amount for fourth quarter of of 2019 which were approved by Board of of Directors on
February 11 2020
4 1 1 1 11 Dividend Policy and Distribution
of Earnings Except as otherwise specified in the the the the Articles of Incorporation or or or or under the the the the R O C law we will not pay dividends or or or or make other other distributions to shareholders when there are are no earnings The R O C C Company Act also requires that 10% of annual net income (less prior years’ losses and and outstanding taxes) be set aside as as legal legal reserve reserve until the accumulated legal legal reserve reserve equals our paid-in capital Our profits may be distributed by way o of of cash cash dividend dividend stock stock dividend dividend or a a a a a a a a combination o of of cash cash and stock stock Pursuant to to to our Articles of of o of Incorporations distributions of of o of profits shall be made preferably by way of of o of cash dividend dividend In In addition the ratio ratio for stock dividends shall not exceed 50% of of the the total distribution Distribution
of of stock dividends is is is is subject to to to approval by the the R O C Financial Supervisory Commission 62 On February 19 19 2019 TSMC’s board of of of directors adopted a a a a a a a proposal recommending distribution of of of a a a a a a a 2018 cash dividend of of of NT$8 per common share share which was approved by the the annual general meeting meeting of shareholders on
on
June 5 2019 In the the same meeting meeting shareholders also approved the the amendments to to to to TSMC’s Articles of of Incorporation to to to to authorize the the Company’s board of of directors to to to to approve quarterly cash dividends after after the the close of each quarter quarter after after which the the dividend dividend will be distributed within six months In the the subsequent board board meetings TSMC’s board board of of directors approved quarterly cash dividends of of which the the respective amounts and payment dates are demonstrated in in in in in the the table below In the the future TSMC intends to maintain a a a a a a a a a a a a a sustainable quarterly cash dividend and to distribute the the cash dividend each year year at a a a a a a a level not lower than the the year year before