Chip assembling and test services specialist ChipMOS Technologies (NASDAQ: IMOS ) announced yesterday a cash dividend of $0.14 per share, the same rate it paid last December after initiating the payout program. There does not appear to be a set schedule yet of how and when future dividends will be paid.
Noting the dividend payment reflects the company's confidence in its future, ChipMOS Technologies Chairman and CEO S.J. Cheng said: "This represents another step in our ongoing efforts to build shareholder value. We continue to execute on our business, improve profitability, and outperform the industry due to our differentiated end market exposure and customer alignment within our target markets."
The board of directors said the quarterly dividend is payable on Oct. 30 to the holders of record at the close of business on Oct. 16. The regular dividend payment equates to a $0.14-per-share annual dividend, yielding 0.9% based on the closing price on Aug. 30 of ChipMOS Technologies' stock.