Shares of Himax Technologies (HIMX) rose more than 3% in Monday midday trading after the semiconductor producer announced a cash dividend.
HIMX said it would pay “a cash dividend of 27 cents per ADS, or 13.5 cents per ordinary share, for the year of 2013.” The HIMX dividend is scheduled for payment on July 23, to HIMX shareholders of record on July 11. HIMX noted that its “ADS book will be closed for issuance and cancellation from July 4, 2014 to July 11, 2014.”
In a statement, HIMX CEO and President Jordan Wu said, “The Himax dividend is based on our prior year’s profitability. The payout ratio and yield of our dividend is compared to those of other dividend paying companies in our sector which we work to maintain our high competitive standards. As the result of our profitability improvement in 2013, Himax increases cash dividend from 25 cents per ADS in 2013 to 27 cents per ADS in 2014. The high payout ratio demonstrates our continued support of our shareholder base and long standing profitability.”
On Friday, HIMX stock closed at $6.53 per share.
More Stocks to Watch:
