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TSMC board passes US$6.7 billion budget for advanced process, capacity expansion

Daniel Nenni

Admin
Staff member
It is definitely going to be a big year for TSMC. Remember, TSMC's bleeding edge process customers (Apple, Huawei, Nvidia, etc...) write some very big checks as does the massive TSMC ecosystem of customers and partners. So the TSMC R&D budget really is MUCH larger than the 8-10% of revenue spend reported. Exponentially larger in my opinion, which is why TSMC will be VERY hard to catch in the coming years, absolutely.

TSMC Fab 12 SemiWiki.jpg


TSMC Board of Directors Meeting Resolutions

Hsinchu, Taiwan, R.O.C., Feb. 11, 2020 – TSMC (TWSE: 2330, NYSE: TSM) today held a meeting of the Board of Directors, which passed the following resolutions:

1. Approved the 2019 Business Report and Financial Statements. Consolidated revenue totaled NT$1,069.99 billion and net income was NT$345.26 billion, with diluted earnings per share of NT$13.32.

2. Approved the distribution of a NT$2.5 per share cash dividend for the fourth quarter of 2019, and set June 24, 2020 as the record date for common stock shareholders entitled to participate in this cash dividend distribution, and the ex-dividend date for the common shares shall be June 18, 2020. As required by Article 165 of Taiwan’s Company Law, the shareholders' register shall be closed for five days prior to the record date (June 20 through June 24, 2020) for registration transfer, and the dividend will be paid on July 16, 2020. In addition, the ex-dividend date for TSMC American Depositary Shares (ADSs) will be June 18, 2020. The record date for TSMC ADSs entitled to participate in this cash dividend distribution will be June 19, 2020.

3. Approved distribution of employees’ cash bonus and profit sharing bonus totaling approximately NT$46,331.50 million for 2019. This includes cash bonus of NT$23,165.75 million distributed following each quarter of 2019 and profit sharing bonus of NT$23,165.75 million to be distributed in July 2020.

4. Approved capital appropriations of approximately US$6,742.1 million (approximately NT$200.9 billion) for purposes including: 1) Fab construction, and installation of fab facility systems; 2) Installation and upgrade of advanced technology capacity; 3) Installation of specialty technology capacity; 4) Installation of advanced packaging capacity; 5) Second quarter 2020 R&D capital investments and sustaining capital expenditures.

5. Approved the issuance of no more than NT$60 billion (approximately US$2.01 billion) in unsecured corporate bonds in Taiwan to finance TSMC’s capacity expansion and/or pollution prevention related expenditures.

6. Approved the convening of the 2020 AGM for 9:00 a.m. on June 9, 2020 at TSMC’s Headquarters (No. 8, Li-Hsin Rd. 6, Hsinchu Science Park, Hsinchu, Taiwan), at which shareholders will hold an election for one additional independent director. The Board of Directors also approved the nomination of Mr. Yancey Hai as a candidate for independent director, and approved the appointment of Mr. Hai as a member of the TSMC Compensation Committee, effective February 11, 2020. Mr. Hai is currently Chairman of Delta Electronics Inc.

TSMC Spokesperson
Wendell Huang
Vice President & Chief Financial Officer
Tel: 886-3-5055901

TSMC Deputy Spokesperson
Nina Kao
Public Relations Department
Tel: 866-3-563-6688 Ext.712-5036
 

Tables 777

New member
Dan: Are you as astonished as I am that while TSM's clients can do very well, NVDA being the latest case in point, TSM's share price languishes relatively speaking? Don't investors understand that if companies like NVDA, AAPL and AMD are doing well that it means TSM is doing really well? I feel it's only a matter of time until the market acknowledges this and in a big way. But until then, all I can do is stare in disbelief.
 

Daniel Nenni

Admin
Staff member
Dan: Are you as astonished as I am that while TSM's clients can do very well, NVDA being the latest case in point, TSM's share price languishes relatively speaking? Don't investors understand that if companies like NVDA, AAPL and AMD are doing well that it means TSM is doing really well? I feel it's only a matter of time until the market acknowledges this and in a big way. But until then, all I can do is stare in disbelief.
Agreed.

One of the things I do during the day is talk to Wall Street people about the finer points of semiconductors and the different companies in the supply chain (Foundry, EDA, IP, etc...). I have been doing this for 10+ years and can tell you that most institutional investors have no clue as to how strong of a position TSMC is in today. That is one of the problems with being a humble company. Other semiconductor CEOs are out there boasting about things they really shouldn't be boasting about while TSMC stays quiet and continues the race towards world domination.

I'm really looking forward to the TSMC Symposium this year. It's going to be one of the best victory laps in TSMC's history, absolutely.
 

Tables 777

New member
Dan; Well, I am glad you are out there, with your considerable technical expertise, to help educate institutional investors. So here's a question: Does the company's annual symposium function also as an "investor day" or is it a more technical conversation geared to semi industry professionals?

And if it is the latter, have you ever proposed to the company that it could greatly benefit from hosting an "investor day"? I am attracted to humility as a corporate or an individual trait, especially when compared to its opposite, but as your daily experience clearly shows, more people need to be educated about this company's marvelous performance and its "race towards world domination". By the way, as an investor, I like the ring of that phrase.
 

Daniel Nenni

Admin
Staff member
Dan; Well, I am glad you are out there, with your considerable technical expertise, to help educate institutional investors. So here's a question: Does the company's annual symposium function also as an "investor day" or is it a more technical conversation geared to semi industry professionals?

And if it is the latter, have you ever proposed to the company that it could greatly benefit from hosting an "investor day"? I am attracted to humility as a corporate or an individual trait, especially when compared to its opposite, but as your daily experience clearly shows, more people need to be educated about this company's marvelous performance and its "race towards world domination". By the way, as an investor, I like the ring of that phrase.
The TSMC Symposium is for TSMC customers and partners by invitation only. It is one of the best conferences of the year for me since TSMC, customers, and partners all present. Here is last year's review in two parts:


 

Tables 777

New member
Dan: Thank you for sending me to the symposium reviews. It is a very helpful summary. And needless to say, very, very impressive. I think it's only a matter of time before the overall market acknowledges TSMC's dominance and how their competitive advantage will only grow with time. And I think this happens sooner rather than later.
 
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