
TSMC goes ex-dividend, Morris Chang pockets NT$437 million
Taiwan chipmaker TSMC went ex-dividend on Thursday, dropping NT$3.5 per share but recovering almost instantly. The stock briefly touched NT$935, before closing up 1.49% at NT$919. Former company CEO Morris Chang is expected to receive NT$437 million in dividends, if he still holds all the shares he owned upon retirement.
According to Forbes magazine, TSMC founder Morris Chang is now worth over US$3.3 billion. These days, he’s riding high on TSMC dividends.
On Wednesday, TSMC’s American depositary receipts surged by 4%, closing at US$172.98. The stock went ex-dividend on the Taiex on Thursday, paying out NT$3.5 per share to open at NT$923. But it recovered almost instantly, hitting a record NT$935 at its peak before closing at NT$919, up 1.43%. Its market value now stands at NT$23.83 trillion.
Winson Wang
Market analyst
TSMC’s stock price is now above NT$900, so even the slightest rise will recover the dividend. What’s more, the current market situation is very favorable for TSMC. Not only is Wall Street going strong, TSMC’s own fundamentals are excellent.
When Chang retired as TSMC chair in June 2018, he owned 125,000 shares. If he had maintained his holdings, he pocketed NT$437 million in dividends on Thursday. Former TSMC chair Mark Liu, with his 12,913 shares, earned NT$45.19 million. Company CEO C.C. Wei, with 6,392 shares, received NT$22.37 million. The Executive Yuan’s National Development Fund, a major institutional shareholder, received NT$5.78 billion.
Winson Wang
Market analyst
Taiwan’s EPS could challenge NT$50 next year. Assuming a price to earnings ratio of 20, TSMC’s stock price could reach NT$1,000.
Amid the AI frenzy, TSMC has emerged as one of the world’s most valuable companies, beating out rivals Samsung and Intel. Its 3 nanometer process is booked until 2026 by clients including Apple, Qualcomm, Nvidia, and AMD. Experts say it’s only a matter of time before TSMC hits NT$1,000.
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2024-06-13