LITE-ON Technology Announced Results of 2019 Annual General Meeting: Distribution of a NT$2.92 Cash Dividend per Share with yield of 6.4%
LITE-ON Technology (2301.TW) today held its 2019 annual general meeting, during which the shareholders approved the distribution of a NT$2.92 cash dividend per common share, dividend payout ratio and cash yield reached 85% and 6.4% respectively, in line with the company’s high and stable divided policy. In 2018, LITE-ON posted its annual consolidated sales of NT$207.1 billion, the profit before income tax of NT$10.78 billion, and net profits NT$7.96 billion with EPS of NT$3.42, up 203% Y-o-Y. Meanwhile, the approvals were granted for the re-election of Board of Directors, Raymond Soong, Warren Chen, Tom Soong, and the representatives Keh-Shew Lu and CH Chen of Ta-Sung Investment Co., Ltd., as well as the independent directors of Albert Hsueh, Harvey Chang, Edward Yang and Mike Yang.
In 2018, LITE-ON's major growth from major core business, including the cloud computing and LED components/ vehicle and outdoor LED lighting applications, reached nearly 30% of total sales with a revenue growth of 20% Y-o-Y. This demonstrates the achievement of LITE-ON's efforts in new business incubation and quality-transformation. Meanwhile, in response to the many changes in the global industrial environment, LITE-ON has streamlined and focused its business scope and segments with consistent profitability, steadier operations and higher return on equity. In 2018, LITE-ON disposed the mobile phone-related businesses, Mobile Camera Module and Mobile Mechanics, through transfers of business operations. LITE-ON transferred the business operations and assets of Camera Module business in the Portable Image Device Business Group to LuxVisions Innovation Ltd.; sold 100% stake in three Mobile Mechanics Business subsidiaries to Top Touch Electronics Co., Ltd., a subsidiary of Zhejiang Firstar Panel Technology Co., Ltd. In 2019, LITE-ON proceeded to acquire 100% of LITE-ON Japan Ltd through the tender offer.
The global trend of valuing sustainable investment remains in the ascendant. ESG performance has become an important reference for investors. LITE-ON has been listed as a member of the Dow Jones Sustainability Index (DJSI) for eight years in a row since 2011, had a place on the MSCI ESG Leaders Index for five years in a row. In 2018, LITE-ON was listed in the inaugural Thomson Reuters Top 100 Global Technology Leaders. In Taiwan, LITE-ON was ranked top 5% in the 2018 Corporate Governance Evaluation Survey jointly implemented by the Taiwan Stock Exchange (TWSE) and the Taipei Exchange (TPEx), listed as a constituent stock in the FTSE4Good TIP Taiwan ESG Index, obtained the Commonwealth Magazine's “Corporate Citizen Award” in the large enterprise category for the 12th time, and awarded the Platinum Award, the highest honor, in the electronic and IT category in the 2018 Corporate Sustainability Report Awards from TCSA.
Julia Wang, Senior Director of IR/PR +886-2-8798-2888 LITEONTech.IR@liteon.com