Taipei--Directors of Taiwan Semiconductor Manufacturing Co, (TSMC, ???), the world's largest contract chip maker, were paid the most in 2016 among all of the firms listed on the local main board and the over-the-counter market, the Taiwan Stock Exchange (TWSE) said Saturday.
Citing data, the TWSE said that TSMC's directors received about NT$51.997 million (US$1.71 million) in compensation in addition to their salary on average last year as the chip maker ranked as the most profitable company in Taiwan.
Last year, TSMC posted NT$334.25 billion in net profit, a record high in the company's history, with earnings per share (EPS) at NT$12.89, which was also a new high, on the back of strong global demand for handheld devices as well as the company's lead over its peers in technology development.
TSMC accounts for a more than 50 percent share in the global pure foundry industry.
Coming in second for paying the most generous salary for its directors was CTBC Financial Holding Co. (???), one of the leading financial companies in Taiwan. Its directors received NT$50.82 million in pay on average last year, the TWSE said.
In 2016, CTBC Financial generated NT$27.93 billion in net profit with EPS at NT$1.43.
Largan Precision Co. (???), a smartphone camera lens supplier to Apple, meanwhile doled out an average of NT$28.20 million in compensation, the third highest among the listed companies in 2016, the TWSE said.
Although Largan posted NT$169.47 in EPS, the highest level among the listed companies, the average compensation of its directors lagged far behind that of TSMC and CTBC Financial, and represented only about 54 percent of TSMC's average.
According to the TWSE, the local financial sector made up three of the top 10 in the highest director compensation list and the high-tech sector took two spots, which were TSMC and Largan, while the old economy sector grasped the remaining five.
In the financial sector, in addition to CTBC Financial being among the top 10, directors of Fubon Financial Holding Co. (???) and Taishin Financial Holding Co. (???) received compensation of more than NT$21 million on average, the TWSE said.
In the old economy sector, directors of Cheng Shin Rubber Ind. Co. (????) and food maker Uni-President Enterprises Corp. (??) were paid NT$25.25 million and NT$22.97 million in compensation on average last year, the TWSE data showed.
Some companies, including scanner supplier Microtek International Inc. (??) and computer peripheral maker Pan-International Industrial Corp. (??), omitted director compensation last year, although they remained profitable.
Source: Focus Taiwan News Channel