Asus 2010 Annual Report Download - page 168
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164
B. Dividends, stock warrants and other rights
GDR holders and common share holders are all entitled to receive dividends. The
Depositary may issue new GDRs in proportion to GDRs holding ratios or raise the
number of shares of common stock represented by each unit of GDR or sell stock
dividends on behalf of GDR holders and distribute selling income to them in
proportion to their GDRs holding ratios.
19) Additional paid-in capital
The R.O.C. Securities and Exchange Act requires that capital reserve shall be exclusively used
to cover accumulated deficit or to increase capital and shall not be used for any other purpose.
However, capital reserve arising from paid-in capital in excess of par value on issuance of
common stock and donations can be capitalized once a year, provided that the Company has
no accumulated deficit and the amount to be capitalized does not exceed 10% of the paid-in
capital.
20) Retained earnings
(1) According to the Company’s articles of incorporation, annual net income after covering
prior years’ losses, if any, should be distributed as follows: 10% as legal reserve, an
appropriate amount as special reserve according to relevant regulation or as required by
the government, 10% of capital stock as capital interest, no less than 1% as employees’
bonuses, and no more than 1% as directors’ and supervisors’ bonuses. When the
employees’ bonuses are distributed in stock, the recipients must include the employees of
subsidiaries. After the distribution of earnings, the remaining earnings, if any, may be
appropriated according to a resolution adopted in the stockholders’ meeting.
(2) The Company is facing a rapidly changing industrial environment, which is in the growth
phase. In light of the long-term financial plan of the Company and the demand for cash
by the stockholders, the Company should distribute cash dividends of no less than 10% of
the total dividends declared.
(3) Except for covering accumulated deficit or increasing capital, the legal reserve shall not
be used for any other purpose. Capitalization of the legal reserve is permitted, provided
that the balance of the reserve exceeds 50% of the Company’s paid-in capital and the
amount capitalized does not exceed 50% of the balance of the reserves.
(4) The appropriation of 2009 and 2008 earnings had been resolved at the stockholders’
meeting on April 22, 2010 and June 16, 2009, respectively. Details are summarized as
follows: