Taiwan Semiconductor approves over $15.2B in capital appropriations to meet growing demand

By Mucahithan Avcioglu

ISTANBUL (AA) - Taiwan Semiconductor Manufacturing Co. (TSMC), the world's biggest contract chipmaker, said Tuesday that its board has approved capital appropriations exceeding $15.24 billion.

In a statement, the Taiwanese chip giant said the funds will be utilized to build semiconductor factories with the required facility systems, increase mature and specialist technologies, and install advanced technology and packaging capacity.

The firm's board also accepted a proposal to pay out a 5 Taiwan dollars ($0.16) cash dividend per share, based on first-quarter earnings per share of $0.46.

The $0.15 dividend for the fourth quarter of last year is surpassed by the anticipated $0.16 cash dividend per share for the first quarter.

Despite its desire to grow internationally, TSMC has stated that its investments would not affect its cash dividend payments.

The dividends will be paid out on Oct. 22 after the ex-dividend date of Sept. 16.

A plan to sell TSMC equipment to VisionPower Semiconductor Manufacturin, a subsidiary of TSMC's affiliate, for $71-73 million was also authorized by the board.