SFA Semicon Philippines Corp.’s board on Monday approved cash dividends totaling $2,563,748 out of unrestricted retained earnings as of December 31, 2022.
The dividends will be paid on April 14, 2023 to stockholders of record as of March 17, 2023.
“The actual amount of dividend per share could not yet be determined at this time, in view of the ongoing share buyback program of the corporation which would have the effect of decreasing the total number of outstanding shares of the company,” SFA Semicon said in a disclosure.
“Since the Philippine Stock Exchange requires the disclosure to the public of the amount of dividend per share on the date of the dividend declaration … the corporation is tentatively disclosing a dividend per share in the amount of US$0.00121 …merely as a rough estimate,” it added.
“[T]he actual amount of dividend per share will be recomputed based on, and in accordance with, the total number of outstanding shares of the company on the record date of March 17, 2023, which actual dividend per share will be separately disclosed to the PSE and the Securities and Exchange Commission after the record date.”
In determining the peso equivalent of the payment, the peso-dollar rate on March 17, 2023 will be used.
SFA Semicon, formerly Phoenix Semiconductor Philippines Corp., is a majority-owned subsidiary of SFA Semicon Co. Ltd. and a part of the SFA Engineering Group of South Korea.
It is one the country’s largest semiconductor companies and the biggest exporters in terms of dollar revenues in the Clark Freeport Zone in Pampanga.
The firm’s share price rose by nine centavos to P1.73 on Monday.