Chunghwa Telecom Co. shareholders endured nearly 13 hours of marathon questioning before approving a cash dividend of NT$5.0 ($0.17) per share, totaling NT$38.8 billion ($1.3 billion), at the company’s annual meeting Thursday.
The session, chaired by Chairman Chien Chih-cheng, stretched from 9 a.m. until 9:58 p.m. at the company’s Banqiao training facility as employee shareholders engaged in their customary lengthy interrogations of management. While exhausting, the meeting wasn’t Chunghwa’s longest on record — that distinction belongs to a 14 hour 57 minute marathon under former chairman Rick Tsai, who now leads chipmaker MediaTek Inc.
Taiwan’s dominant telecom operator reported 2024 earnings per share of NT$4.8 ($0.16), representing modest 0.8% growth following the first year of industry consolidation. The company attributed performance to stable telecommunications revenue and improved profitability in its information and communications technology division.
Shareholders elected 13 directors, including eight representatives from the Ministry of Transportation and Communications, which maintains government oversight of the former state monopoly. Five independent directors round out the board.
The dividend distribution reflects Chunghwa’s commitment to returning profits to shareholders while maintaining what the company described as a robust financial position and strong cash flow. The payout comes as Taiwan’s telecom sector faces intensifying competition and pressure to invest in 5G infrastructure and artificial intelligence capabilities.
The lengthy shareholder meetings have become a fixture at Chunghwa, reflecting the activist stance of employee shareholders who use the forum to scrutinize management decisions and corporate strategy in exhaustive detail.
