Taipei, May 27 (CNA) Shares in Taiwan moved sharply higher by almost 300 points Friday, with investors encouraged by a rally on United States markets overnight in the wake of an upbeat earnings forecast from retailers, dealers said.
Yang Ming Marine Transport Corp (陽明海運) is not considering conducting a capital reduction in the short term, but might evaluate the possibility of retiring some stock repurchased from the market, company chairman Cheng Cheng-mount (鄭貞茂) told an annual shareholders’ conference in Keelung yesterday.
Cheng’s comment came after several minor shareholders suggested that Yang Ming Marine Transport should reduce its capital and return cash to shareholders, following the example of its local peer Evergreen Marine Corp (長榮海運).
The shareholders also complained about Yang Ming Marine Transport’s low payout ratio. The company proposed paying a cash dividend of NT$20 per share, a payout ratio