Taiwan Mobile to dole out handsome 2009 dividend Tweet

Telecom carrier Taiwan Mobile (TWM) will distribute a dividend per share of NT$5.03 in cash for its 2009 operation, its board of directors has decided.

TWM's 2009 dividend is higher than those to be distributed by its two competitors in Taiwan - Chunghwa Telecom's NT$4.06 and Far EasTone Telecommunications' NT$2.80.

As TWM's 2009 net EPS of NT$4.66 is lower than the dividend, the company will appropriate NT$2.5 billion (US$80 million) from its cumulative retained earnings to cover the gap, TWM said.

In related news, Taiwan's Fair Trade Commission on April 29 approved TWM's proposal to invest NT$49 million in ezPeer+, a peer-to-peer online music platform in Taiwan, for a 45% stake, TWM indicated.

TWM said its user base of more than six million subscribers is expected to help ezPeer+ expand its business operation.

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