AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today held its 2003 Annual General Meeting of Shareholders at which the shareholders approved the distribution of a stock dividend of NT$1.0 per common share. Of the NT$1.0 dividend per share, NT$0.50 is to be paid in cash while NT$0.50 will be paid in the form of common shares (NT$500 cash dividend and 50 common shares for every 1,000 shares held by shareholders). In addition, Shareholders approved the capitalization of dividends and employee profit sharing, which totaled 224,054,884 shares, of which 43,363,200 common shares will be distributed as employee stock bonuses, with estimated dilution of 1.02% after capitalization.
Shareholders also approved financial statements for 2002. Net sales for 2002 was NTD75.5 billion, a 101% growth from 2001, and net income was NTD 6.0 billion, with basic EPS of NTD 1.65 and diluted EPS of NTD 1.58.
AU Optronics also announced its 2003 business plan. Its fifth generation ("G5") fab, which is also the first G5 fab in Taiwan, commenced commercial production in April, 2003. AUO is also constructing a in-house colour filter fab, which is slated for production in September 2003. Responding to market demand for flat panel displays, AUO will continue to invest its second phase of G5 TFT production facility, its G5 colour filter production capacity, and the expansion of its module assembly capacity in Suzhou, China. AUO is well positioned to benefit from its outstanding manufacturing capabilities, early mover advantage, broad product mix, leading customer portfolio, technology advancement, cost competitiveness and sound financial position, to maintain and further enhance its leading position in the TFT-LCD industry.