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Shares of Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend, Analyst Ratings Net reports. The company traded as high as $21.96 and last traded at $21.96, with a volume of 4,509,611 shares trading hands. The stock had previously closed at $21.39.

The newly announced dividend is scheduled for Wednesday, August 6th. Stockholders of record on Wednesday, July 16th will be paid a dividend of $0.5018 per share. This represents a dividend yield of 2.35%. The ex-dividend date is Monday, July 14th.

Separately, analysts at HSBC downgraded shares of Taiwan Semiconductor Mfg. Co. Ltd. from an “overweight” rating to a “neutral” rating in a research note on Tuesday, April 22nd.

The stock has a 50-day moving average of $20.95 and a 200-day moving average of $19.0. The company has a market cap of $113.8 billion and a price-to-earnings ratio of 17.25.

Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) last posted its quarterly earnings results on Thursday, April 17th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.01. The company had revenue of $148.22 billion for the quarter, compared to the consensus estimate of $147.78 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts predict that Taiwan Semiconductor Mfg. Co. Ltd. will post $1.47 earnings per share for the current fiscal year.

Taiwan Semiconductor Manufacturing Co, Ltd. is principally engaged in the research, development, manufacture and distribution of integrated circuit (NYSE:TSM) related products.

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