(Yicai Global) Feb. 21 -- Taiwan Semiconductor Manufacturing,  which makes chips for the likes of Apple, Qualcomm and Huawei, will hand  out TWD47.1 billion (USD1.5 billion) in cash incentives and dividends  for its employees. 

The announced the plan at the Xinzhu-based firm's board meeting  to approve its 2018 financial report, Taiwan's Economic Daily News  reported yesterday.

The sum of TWD47.1 billion will be made up equally of cash  rewards and dividends, according to the plan. The cash rewards will be  issued at the end of each quarter while the dividends will be allocated  in July. Each share will be distributed with a cash dividend of TWD8  (USD0.3), while each one in the fourth quarter will come with a cash  dividend of TWD2 related to performance in the first quarter this year. 

A total cash dividend of TWD10 per share will be handed out for the whole year, adding up to an estimated TWD259.3 billion.

The TSMC board also approved a capital budget of TWD114.1  billion, as well as a research and development budget for the second  quarter and a recurring capital budget. The first one is for the  establishment of advanced processes.

TSMC cannot pre-announce its rewards for the first quarter as it  has not yet ended. The proposal passed by its board of directors is a  plan rather than a resolution for this year's dividend distribution  method, said Dr. Elizabeth Sun, director of TSMC's corporate  communications division and spokesperson, adding that the dividend  policy will be decided at a shareholder conference in June.
TSMC's revenue was TWD1.03 trillion (USD33 billion), and its net  profit after tax was TWD351.1 billion last year, both representing  record highs. The company's net profit per share was TWD13.54, which was  the second highest in history.