TSMC announces NT$6/share quarterly dividend starting April 9, 2026. In line with our earlier expectation on Facebook dated Oct 16, we might see NT$7/share quarterly dividend by 2026 and NT$10/share by 2027.

TSMC announced that starting from April next year, the cash dividend will increase to NT$6 per quarter. I reiterate my view from October 16th that next year it could reach NT$7, and the year after, 2027, it could reach NT$10. Previously, TSMC was rather stingy, only adding at most NT$0.5 at each meeting, mainly because EPS growth was too slow, which was understandable. However, this year, EPS increased by nearly NT$20 in one go, and in the third quarter, cash on hand per share was NT$106. If the cash dividend still only increases by NT$0.5 each time, wouldn't that be ridiculous?