LITE-ON Technology Announces Results of 2020 Annual General Meeting: Distribution of a NT$3.2 Cash Dividend per Share with yield of 6.3%

2020/06/15

LITE-ON Technology (2301.TW) today held its 2020 annual general meeting, during which the shareholders approved the distribution of a NT$3.2 cash dividend per common share, dividend payout ratio and cash yield reached 79% and 6.3% respectively, in line with the company’s high and stable divided policy. In 2019, LITE-ON posted the annual consolidated sales of NT$177.95 billion, operating profit of NT$9.35 billion, up 25% Y-o-Y, and net profit NT$9.38 billion with EPS of NT$4.03, up 18% Y-o-Y, hitting a record high in three years.

“In 2019, LITE-ON showed a substantial improvement in profitability, reflecting LITE-ON’s ongoing effort to focus on realigning revenue sources and creating stronger operations, thereby achieving successful upgrade and transformation. Despite the impact from COVID-19 outbreak, the company’s first quarter net profit was NT$1.57 billion with EPS of NT$0.68, up 7% Y-o-Y, also hitting a record first quarter net profit in two years. Facing the uncertainties in the global economy in 2020, LITE-ON stays alert to changes, keeping flexibility and expanding production capacity outside China, including Taiwan, Thailand, Vietnam, Mexico, Brazil and India, etc., to meet the global demand. LITE-ON continues to focus on opportunities from cloud computing, such as power management systems, enclosures, networking and other IoT applications, as well as Optoelectronic, 5G+AIoT and other new applications in the medium to long term,” said Mr. Raymond Soong, LITE-ON Chairman.

LITE-ON’s pillars for growth in 2019, including cloud computing, LED Components, LED vehicle and outdoor lighting, 5G, AIoT and other applications, accounted for more than 30% of the total revenue, and contributed over 40% of the profit. In response to drastic changes in global geopolitical and economic conditions, LITE-ON has been investing actively in establishing long term advantages such as automated production systems and robotic arms, accelerating smart manufacturing, strengthening integration of manufacturing platforms and capabilities to manage digital supply chains at production facilities around the world and integrating internal talent and external partners, to build a supply chain for smart manufacturing and enhance the company’s core competency of serving customers worldwide. Meanwhile, LITE-ON has been making more extensive use of information systems to accelerate productivity, introducing robotic process automations (RPA) to strive for a complete digital transformation.

LITE-ON aims to develop sustainable governance, increase its influence in the industry and achieve environmental sustainability. LITE-ON was just awarded the First Prize in Electronics Technology Industry of Global Views Magazine’s 2020 annual overall CSR survey, as well as being rated “A” by Carbon Disclosure Project (CDP 2019). The company has also been listed as a member of the Dow Jones Sustainability Index (DJSI) for nine years in a row since 2011 and had a place on the MSCI ESG Leaders Index for six years in a row. In Taiwan, LITE-ON was ranked top 5% in the 2019 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, awarded Commonwealth Magazine's “Corporate Citizen Award” in the large enterprise category for the 13th time. LITE-ON also won the 2019 Top Ten Domestic Corporates, Climate Leadership Award and Corporate Sustainability Report Platinum Award from TCSA.

Press Contact:

Julia Wang, Senior Director of IR/PR +886-2-8798-2888 LITEONTech.IR@liteon.com