Taiwan Semiconductor Manufacturing Co. (TSMC) declared an unprecedented cash dividend of 3.5 yuan per share for Q3 2023, reflecting a substantial 16.66% boost from the previous quarter. The decision, stemming from a board meeting held on the 14th, comes on the heels of TSMC’s robust financial performance in Q3, where after-tax net profit reached approximately NT$211 billion. The gross profit margin stood at 54.3%, and the operating profit margin at 41.7%, both surpassing forecasts.
TSMC’s strategic move is aligned with its commitment to rewarding shareholders as the company expands production. The ex-dividend trading date is slated for March 18, 2024, with cash dividends scheduled for distribution on April 11.
Furthermore, TSMC’s board endorsed a capital budget of around US$4.34 billion. This allocation encompasses initiatives like the construction of advanced process production capacity, development of advanced packaging, and funding for R&D in the upcoming year. The company’s proactive approach to dividends reflects confidence in its future trajectory and commitment to shareholder value.
