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To: Jibacoa who wrote (9248)	3/27/2001 9:50:07 AM
From: DJBEINO	Respond to of 9582

Taiwan's UMC to issue T$1.5/share stock dividend TAIPEI, March 27 (Reuters) - Taiwan's United Microelectronics Corp (UMC) <2303.TW> said on Tuesday its board had approved a plan to issue a stock dividend of T$1.5 per share based on 2000 earnings. The proposal would translate into a stock dividend of 150 bonus shares for every 1,000 shares held in UMC, the world's second largest made-to-order microchip foundry said in a statement after the close of the day's stock trading. It quoted Chairman John Hsuan saying a downtrend in the industry was the reason behind the board's decision to retain a majority of earnings. "The semiconductor industry has taken a dramatic turn beginning the fourth quarter of 2000 and so far shows no sign of a recovery. It's quite certain this year's earnings will be much less than the year 2000," it said. "It would be unwise to seriously dilute earnings per share this year with (a) higher stock dividend distribution," it said. On Tuesday, shares of UMC added T$0.50 or 0.90 percent while the wider TAIEX <.TWII> lost 0.20 percent. biz.yahoo.com