NatWest: July’s Dividend Payment Seasonality

NatWest Markets note that “Taiwan’s dividend season approaches, and we estimate major dividend payments dates in aggregate and to foreigners. Over Q3 we estimate TWD392bn will be paid to foreigners, out of a total of TWD1277bn in dividends paid out (or US$13bn to foreigners, of a total of US$43bn). Dividend payments are highly concentrated in July, with payments on July 14th and 28th (of TWD63bn and TWD70bn respectively, or approx. US$2.1 bn and US$2.4 bn), representing some 34% of the total dividends to be paid to foreigners during the coming quarter. July and August have historically been months where the most number of companies on the TAIEX pay dividends.”