TSMC's board of directors has approved a budget of about US$5.7 billion for new fab facility constructions, and advanced-node manufacturing capacity installation and upgrade, as well as installation of specialty technology capacity, and R&D capital investments and sustaining capital expenditures for third-quarter 2020.

TSMC's board also approved capital appropriation of approximately US$64.75 million for capitalized leased assets in the second half of 2020, according to the pure-play foundry.

Other resolutions approved by TSMC's board of directors also include the issuance of up to NT$60 billion in unsecured corporate bonds in Taiwan to finance the company's capacity expansion and/or pollution prevention related expenditures, the distribution of a NT$2.50 per share cash dividend for the first quarter of 2020, and the promotion of its VP of technology development Cliff Hou to senior VP.

TSMC reported net profit grew 90.6% on year and 0.8% sequentially to NT$116.99 billion (US$3.89 billion) for the first quarter of 2020, with EPS reaching NT$4.51.

TSMC reiterated its capex target this year of a record US$15-16 billion, of which as high as 80% will be used for the development of the foundry's advanced process nodes including 7nm, 5nm and 3nm.

By: DocMemory
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