Taipei--Shares of contract chip maker Taiwan Semiconductor Manufacturing Co. (TSMC, ???) opened at a record high Friday, encouraged by the company's rosy revenue prospects.
TSMC shares opened at NT$214.5, with its market capitalization reaching NT$5.56 trillion, the highest of any company listed on the local equity market.
The chip maker posted a record high net profit of NT$334.25 billion in 2016, up 9 percent from a year earlier, while its consolidated sales also hit a new high of NT$947.94 billion, up 12.4 percent.
A proposal to issue NT$7 in cash dividend per share for the company earnings for 2016 was approved by shareholders in a meeting Thursday.
Also in the meeting, TSMC Chairman Morris Chang (???) said he was confident about the company's performance in 2017 and predicted 5-10 percent annual growth in revenue over the next three years.
Source: Focus Taiwan News Channel