TapTechNews August 14th news, TSMC's board of directors held a meeting yesterday, approving the second-quarter financial report of 2024 while also passing two budget proposals.
Based on the long-term capacity planning formulated according to market demand forecast and technology development blueprint, the TSMC board of directors approved a capital budget of 29.61547 billion US dollars (TapTechNews note: currently about 211.923 billion Chinese yuan).
This fund will be used for the construction and upgrading of advanced process capacity, the construction and upgrading of advanced packaging, mature and/or special process capacity, as well as plant construction and plant facilities engineering.
The TSMC board of directors also approved an increase in capital of no more than 7.5 billion US dollars (currently about 53.669 billion Chinese yuan) to TSMC Arizona, a wholly-owned subsidiary responsible for the construction and operation of an advanced process wafer fab in Arizona, USA.
The TSMC board of directors also approved the issuance of a total of 2.353 million shares of 2024 restricted employee rights new shares for the incentive of senior executives and key talents of the company. Based on TSMC's closing price of NT$948 per share today, this part of the equity is equivalent to NT$2.230644 billion, about 493 million Chinese yuan.