Leading fabless semiconductor solution provider,
Himax Technologies, Inc.
), recently increased its yearly dividend from 6.3 cents per ADS
(American Depository Shares) to 25 cents. The dividend will be
payable on Jul 31, 2013 to shareholders of record as of Jul 19.
Based on the closing price of $5.65 as on Jun 17, the dividend
payout affirms a modest yield of 2.2%.
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Himax has been regularly paying quarterly dividend since its
listing in Nasdaq in 2006.However, the company has reduced the
dividend payouts over the last few years and the recent hike
comes after a four-year sabbatical.
Himax has a policy of paying yearly dividends based on its
performance in the previous financial year. During fiscal 2012,
company's net profit jumped around 3.8 times to $51.6 million
from $10.7 million in fiscal 2011. This surge in profit primarily
led the company to raise its yearly dividend.
In addition to steady yearly dividends, Himax returns
considerable cash to shareholders through its share repurchase
program. In Jun 2011, the company's board of directors approved a
$25 million stock repurchase program. As of Mar 31, 2013, Himax
has purchased shares worth $13.4 million under this program.
Headquartered in Taiwan, Himax provides display driver integrated
circuits (IC) and timing controllers which are used in consumer
electronic devices like TVs, laptops, monitors, mobile phones,
tablets and digital cameras.
Himax currently carries a Zacks Rank #3 (Hold). Relatively better
players in the sector which are worth a look include I
ntegrated Device Technology, Inc.
OmniVision Technologies, Inc
) - both with a Zacks Rank #1 (Strong Buy) - and
) which retains a Zacks Rank #2 (Buy).