Compal Electronics, Inc. (Compal) (Ticker: 2324 TW) today held 2021 Annual General Shareholders’ Meeting (the “Meeting”), hosted by Chairman Sheng-Hsiung Hsu. Chairman Sheng-Hsiung Hsu said “We appreciate shareholders’ support for Compal. Compal’s 2020 financial results achieved a new record high over the past 9 years, with consolidated sales surpassed NT$1 trillion and net profits increased by 35% YoY. Although there is the continued macroeconomic uncertainties in year 2021, we expect the continuous business and profit growth in Compal through the efforts of the management team and all employees. Meanwhile we will also fulfill our corporate social responsibility to address the expectation of Compal stakeholders.”
The Meeting ratified 2020 Business Report and Financial Statements, as well as the Distribution of Earnings for the year 2020. In accordance with the Company’s Articles of Incorporation, Compal Board of Directors have approved the proposal of 2020 cash dividends of NT$1.6 per share (include earning distribution of NT$1.2 per share and cash distribution from capital surplus of NT$0.4 per share) on March 26, 2021. The payment has been made on May 21, 2021. The proposal was reported in the Meeting today.
During the Meeting, shareholders elected Compal 14th term of Board of Directors. The tenure of each Director will be commencing from Aug 27, 2021 and ending on Aug 26, 2024.
The twelve Directors are: Sheng-Hsiung Hsu, Jui-Tsung Chen, Binpal Investment Co., Ltd. (Representative: Wen-Being Hsu) , Kinpo Electronics, Inc. (Representative: Chieh-Li Hsu), Charng-Chyi Ko, Sheng-Chieh Hsu, Yen-Chia Chou, Chung-Pin Wong, Chiung-Chi Hsu, Ming-Chih Chang, Anthony Peter Bonadero, and Sheng-Hua Peng.
The three Independent Directors are: Min Chih Hsuan, Duei Tsai, and Wen-Chung Shen.
After the Meeting, Board of Directors elected Mr. Sheng-Hsiung Hsu as the Chairman and Mr. Jui-Tsung Chen as the Vice Chairman. Board of Directors also renewed the appointment of Mr. Jui-Tsung Chen as the Chief Strategy Officer of the Company and renewed the appointment of Mr. Chung-Pin Wong as the President of the Company.
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