HTC 2007 Annual Report Download - page 47

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INFORMATION ON CAPITAL RAISING ACTIVITIES
89
of 2007 earnings for the proposed allocation of
NTD 1,719,401,200 in stock dividend and NTD
19,486,547,032 in cash dividend, propose to
distribute NT$3 stock dividends and NT$34
cash dividends per share.(based on book
closure date of outstanding shares for 2008
Annual Shareholders Meeting), the Board of
Directors may make the required adjustments
to the actual earnings distribution ratio on the
basis of the number of issued and outstanding
stocks registered in the Common Stockholders'
Roster as at the record date.
>I
f
a
m
a
t
e
r
i
a
l
c
h
a
ng
e
i
n d
i
v
i
d
e
nd po
li
c
y
i
s
e
xp
e
c
t
e
d,
prov
i
d
e
a
n
e
xp
l
a
n
a
t
i
on
:
• The dividend policy is no material change.
(7) Imp
a
c
t
o
f
Th
e
S
t
o
ck
D
i
v
i
d
e
nd Propos
a
l
o
f
Th
i
s Sh
a
r
e
ho
l
d
e
rs M
ee
t
i
ng on Op
e
r
a
t
i
on
a
l
P
e
r
f
orm
a
n
c
e
a
nd E
a
rn
i
ngs P
e
r Sh
a
r
e
:
Company is not required to make public
Company's 2008 financial forecast information;
therefore it is inapplicable.
(8) In
f
orm
a
t
i
on on Emp
l
oy
ee
Pro
f
i
t
Sh
a
r
i
ng &
R
e
gu
l
a
r Comp
e
ns
a
t
i
on
f
or D
i
r
e
c
t
ors
a
nd
Sup
e
rv
i
sors
:
>Comp
a
ny's Ar
t
i
c
l
e
s o
f
In
c
orpor
a
t
i
on s
t
i
pu
l
a
t
e
t
h
e
d
i
s
t
r
i
bu
t
i
on o
f
e
mp
l
oy
ee
pro
f
i
t
sh
a
r
i
ng
a
s w
e
ll
a
s
D
i
r
e
c
t
ors
a
nd Sup
e
rv
i
sors' r
e
mun
e
r
a
t
i
on
i
n
t
e
rms
o
f
p
e
r
c
e
n
t
a
g
e
or s
c
op
e
.
Company's Articles of Incorporation stipulate
that for earnings, the order of distribution shall
be followed according to below:
• To pay taxes.
• To cover accumulated losses, if any.
• To appropriate 10% legal reserve unless the
total legal reserve accumulated has already
reached the amount of the Company's
authorized capital.
• To pay remuneration to directors and
supervisors at 0.3% maximum of the balance
after withholding the amounts under
subparagraphs 1 to 3.
• To pay bonus to employees at 5% minimum of
the balance after withholding the amounts under
subparagraphs 1 to 3, or such balance plus the
unappropriated retained earnings of previous
years.
>Bo
a
rd o
f
D
i
r
e
c
t
ors h
a
s
a
dop
t
e
d
t
h
e
propos
e
d
d
i
s
t
r
i
bu
t
i
on o
f
bonus
f
or
e
mp
l
oy
ee
s
i
n
t
h
e
f
o
ll
ow
i
ng
m
a
nn
e
r
:
• Distribution of cash bonus, stock bonus as well as
Directors and Supervisors' remuneration: On April 25,
2008 Company adopted a resolution passed by Board
of Directors for the expected distribution of 2007
earnings for the proposed allocation of
NTD1,210,000,000 in cash bonus and NTD
103,200,000 in employee stock bonus. There is no
monetary compensation allocated for Director and
Supervisors.
88
(6) Comp
a
ny's D
i
v
i
d
e
nd Po
li
c
y
a
nd
Imp
l
e
m
e
n
t
a
t
i
on Th
e
r
e
o
f
:
>D
i
v
i
d
e
nd Po
li
c
y
:
Because the Company is a technology and
capital-intensive enterprise in its growing
phase, the Company sets a policy to allocate
dividends with consideration to factors such as
the Company's current and future investment
climate, demand for working capital,
competitive environment at home and globally,
capital budget, as well as the interests of the
shareholders, balanced dividends, and long-
term financial planning of the Company. Every
year, the board of directors shall propose the
allocation ratio and propose it at the
shareholders' meeting. The earnings may be
allocated in cash dividends or stock dividends,
provided that the ratio of cash dividends may
not exceed 95% of the total dividends.
According to the company's Articles of
Incorporation, If the Company has earnings
after the annual final accounting, it shall be
allocated in the following order:
• To pay taxes.
• To cover accumulated losses, if any.
• To appropriate 10% legal reserve unless the
total legal reserve accumulated has already
reached the amount of the Company's
authorized capital.
• To pay remuneration to directors and supervisors
at 0.3% maximum of the balance after withholding
the amounts under subparagraphs 1 to 3.
• To pay bonus to employees at 5% minimum of the
balance after withholding the amounts under
subparagraphs 1 to 3, or such balance plus the
unappropriated retained earnings of previous
years. However, the bonus may not exceed the
limits on employee bonus distributions as set out
in the Regulations Governing the Offering and
Issuance of Securities by Issuers. Where bonus
to employees is allocated by means of new share
issuance, the employees to receive bonus may
include employees serving with affiliates who
meet specific requirements. Such specific
requirements shall be prescribed by the board of
directors.
• For any remainder, the board of directors shall
propose allocation ratios based on the dividend
policy set forth in paragraph 2 of this Article and
propose them at the shareholders' meeting.
>Th
e
d
i
v
i
d
e
nd d
i
s
t
r
i
bu
t
i
ons propos
e
d
a
t
t
h
e
mos
t
r
e
c
e
n
t
sh
a
r
e
ho
l
d
e
rs' m
ee
t
i
ng
:
( Board of Directors has adopted, 2008 pending
on the approval of the Shareholders General
Meeting.)
• On April 25, 2008 Company adopted a resolution
passed by Board of Directors for the distribution
V
CAPITAL
l
CAPITAL AND SHARES
l