Nan Ya Plastics Corp. approved a cash dividend of NT$0.7 ($0.02) per share for 2023, marking its first use of unappropriated earnings despite challenging market conditions in the petrochemical sector.
The company reported earnings per share of NT$0.42 for 2023, ranking second among its group affiliates. The dividend represents a payout ratio of 166.67%, significantly higher than its actual earnings.
Nan Ya’s February revenue increased 7.9% month-on-month and 32.1% year-on-year, with further growth expected in March due to improving electronic materials operations and increased ethylene glycol sales. The company anticipates second-quarter revenue will surpass first-quarter results.
Chairman Wu Chia-chau noted stable demand from networking, automotive, and server sectors, with rush orders emerging as downstream customers respond to U.S. tariff policies. The company is diversifying into medical materials, establishing Taiwan’s first blood bag production facility with capacity for 2.97 million sets annually.
The company is also expanding its green initiatives through its SAYA recycled polyester brand and innovative BPA-Clear technology. Nan Ya currently operates recycled polyester production lines across Taiwan, China, Vietnam, the U.S., Thailand, and the Philippines, with plans to increase capacity from 420,000 tons to 470,000 tons this year.
