HTC 2008 Annual Report Download - page 24

42 43
are reviewed by supervisors and certified public
accountants based on considerations of risk
management, intercompany transactions, changes in
accounting policy, assessments of IPR infringement
risk, reasonableness of provision and accrual items
to present fairly on financial reports.
4. Immediate Disclosure of Information & Reliable
Financial Forecasting
HTC has been working diligently to enhance the
timeliness and transparency of financial disclosures.
In addition to publishing important data related to
HTC's business in a timely fashion online in
accordance with regulations, HTC publishes monthly
revenue reports up to six days ahead of schedule,
while initial un-audited quarterly results are released
at the beginning of the first month after the end of
each quarter. The board of directors meets regularly
within one month of the close of each quarter.
Quarterly phone conferences are held for investors
every quarter, at which regularly scheduled topics
include anticipated revenues, profits and costs for the
following quarter. Investor conferences are also held at
the beginning of the new year to discuss matters
related to annual revenues and costs of business in
order to help investors maintain an immediate
perspective on business operations. Business results
achieved over the past 8 quarters have all met or
exceeded forecast numbers.
HTC also invests to maintain and enhance its Internet
presence. A complete overhaul of the HTC website,
launched in March 2008, has added new information
disclosure items and English website content. Such are
geared toward enhancing the value and clarity of
website content in order to facilitate timely acquisition
by investors of key business and financial information.
5. Sound Dividend Policies
HTC has maintained consistent dividend policies over
the years. Factors considered in determining dividend
distributions include assessments of current and future
investment environments, current capital needs,
domestic and international competition, and budgetary
considerations. Shareholder interests and the need to
strike a balance between dividend distributions and
long term financial planning needs are also considered.
The board of directors, in accordance with regulations,
sets a distribution plan each year for submission to
shareholders. In recent years, HTC has been able to
maintain relatively high dividend payments. Dividend
distributions in 2007 amounted to 67.3%. Dividend
payments are made primarily in cash. In 2007, for
example, cash dividends of NT$34 per share and
share dividends of NT$3 per share were distributed to
shareholders. HTC's current(2009) Board of Directors
endorsed a high cash dividend rate policy with total cash
dividend distribution of 2008 and 2009 surpluses set at a
minimum NT$20 billion. These disbursements will be
made during 2009 and 2010.
2OO 8 HTC AN N UAL REPO RT III. Business O perations
NT$B
2004
-
10
5
20
30
15
25
35
0%
40%
35%
50%
55%
60%
65%
30%
45%
40 70%
2005 2006 2007
3 7 .4 %
1.4 4
5.0 0
1 3 .6 8
1 9 .4 9
4 2 .4 %
5 4 .2 %
6 7 .3 %
Payout RatioCash Dividend & Treasury Share BuybackNet Profit After Tax
On 16 June 2008, Mobile Communications Business Group Director for Microsoft
China Benjamin Tan; HTC Chief Marketing Officer John Wang; Dopod Chief Operating
Officer Paul Hsu; HTC Executive Vice President Jason Juang; and Microsoft Corporate
Vice President, Mobile Communications Product Group, Todd Warren joined forces in
Beijing, China to promote the most outstanding mobile telecommunications product
launched this year - the HTC Touch Diamond.
*Payout ratio= (cash dividend + treasury share buyback) / net profit after tax.
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