Taiwan News
Date: 2019/07/01
By  Central News Agency

Shares of Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chipmaker, moved sharply higher Monday to return to the level the stock was at before going ex-dividend on June 24.

Ex-dividend refers to when the stock trades without the value of the next dividend payment. TSMC shares closed at NT$248.50 (US$8.02) on June 21, before having their dividend of NT$8 per share deducted and opening at NT$240.50 at the start of trading on June 24.

On Monday, TSMC shares rose 3.97 percent to close at NT$248.50, off a high of NT$250.00, with 66.24 million shares changing hands on the Taiwan Stock Exchange, where the weighted index ended up 1.53 percent at 10,895.46.

That meant the stock recovered to its pre-ex-dividend level in just six sessions, the fastest the stock has achieved the feat in three years.    [FULL  STORY]