02.21.2001
Securities companies delving deep for 2000 dividend payouts

• The best-performing securities company last year, Jih Sun Securities (6014 'Ri Cheng Zheng'), has announced a 2000 dividend of NT$1.5 per share, NT$1.0 in stock and NT$0.5 in cash. The dividend is the second highest to be paid so far in the securities industry after Capital Securities (6005 'Qun Yi Zheng').

• Yuanta Core Pacific (6004 'Yuan Da Zheng'), National Securities (6001 'Jian Hong Zheng'), Fubon Securities (6007 'Fu Bang Zheng') and Master Link (6006 'Yuan Fu Zheng') all turned in EPS scores above NT$1.0 and are all expected to declare dividends of NT$1.0-plus for last year.

• Securities companies' earnings were badly affected by the stock market slump in 2H00. We believe the above companies represent those with better quality management and cost control. Many of them booked high earnings in January due to the huge stock market rebound, and we expect these companies to declare a 2000 dividend comparable to that announced by Jih Sun. WilliamFong@Primasia.com (886 2) 2547-8864

WilliamFong@Primasia.com +886-[0]2-2547-8864