Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) reported a 91% jump in earnings for the first quarter of 2020 driven by higher revenue. The smartphone and high-performance computing platforms continued to be the major contributor to top-line growth. By technology, the primary contributor to the top-line growth came from the 7-nanometer.
During the quarter, the company’s board approved NT$2.5 cash dividend for the fourth quarter of 2019 and sets June 18 as the ex-dividend date, June 24 as the record date and July 16, 2020, as the distribution date. The board also approved the convening of the 2020 AGM on June 9 and approved the issuance of no more than NT$60 billion in unsecured corporate bonds.
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