Upcoming Dividend • Jul 16
Upcoming dividend of NT$1.34 per share Eligible shareholders must have bought the stock before 23 July 2026. Payment date: 19 August 2026. Payout ratio is on the higher end at 92%, and the cash payout ratio is above 100%. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (4.1%). Declared Dividend • Jun 19
Dividend reduced to NT$1.34 Dividend of NT$1.34 is 4.3% lower than last year. Ex-date: 23rd July 2026 Payment date: 19th August 2026 Dividend yield will be 4.6%, which is higher than the industry average of 3.5%. Sustainability & Growth Dividend is not adequately covered by earnings (92% earnings payout ratio) nor is it covered by cash flows (113% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 1.8% to bring the payout ratio under control. However, EPS has declined by 16% over the last 5 years so the company would need to reverse this trend. Reported Earnings • May 20
First quarter 2026 earnings released: EPS: NT$0.52 (vs NT$0.39 in 1Q 2025) First quarter 2026 results: EPS: NT$0.52 (up from NT$0.39 in 1Q 2025). Revenue: NT$7.77b (up 13% from 1Q 2025). Net income: NT$476.9m (up 33% from 1Q 2025). Profit margin: 6.1% (up from 5.2% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. New Risk • Apr 02
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 96% Cash payout ratio: 102% Dividend yield: 4.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 96% Cash payout ratio: 102% Earnings have declined by 19% per year over the past 5 years. Announcement • Mar 13
Standard Foods Corporation, Annual General Meeting, Jun 17, 2026 Standard Foods Corporation, Annual General Meeting, Jun 17, 2026. Location: no,369, sec.1 huo p`ing w. rd., dayuan dist., taoyuan city Taiwan Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: NT$0.41 (vs NT$0.54 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.41 (down from NT$0.54 in 3Q 2024). Revenue: NT$7.28b (down 4.6% from 3Q 2024). Net income: NT$375.3m (down 24% from 3Q 2024). Profit margin: 5.2% (down from 6.5% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$0.13 (vs NT$0.32 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.13 (down from NT$0.32 in 2Q 2024). Revenue: NT$6.17b (down 2.9% from 2Q 2024). Net income: NT$117.2m (down 60% from 2Q 2024). Profit margin: 1.9% (down from 4.6% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 10
Upcoming dividend of NT$1.40 per share Eligible shareholders must have bought the stock before 17 July 2025. Payment date: 15 August 2025. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (3.6%). Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent Director Susan Lin was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Jun 21
Dividend increased to NT$1.40 Dividend of NT$1.40 is 12% higher than last year. Ex-date: 17th July 2025 Payment date: 15th August 2025 Dividend yield will be 4.2%, which is higher than the industry average of 3.5%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 1.9% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 12% to shift the payout ratio to a potentially unsustainable range, which is similar to the EPS decline seen over the last 5 years. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$0.39 (vs NT$0.53 in 1Q 2024) First quarter 2025 results: EPS: NT$0.39 (down from NT$0.53 in 1Q 2024). Revenue: NT$6.88b (up 1.2% from 1Q 2024). Net income: NT$357.9m (down 25% from 1Q 2024). Profit margin: 5.2% (down from 7.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 9% per year, which means it is performing significantly worse than earnings. Announcement • May 06
Standard Foods Corporation to Report Q1, 2025 Results on May 13, 2025 Standard Foods Corporation announced that they will report Q1, 2025 results on May 13, 2025 Reported Earnings • Apr 01
Full year 2024 earnings released: EPS: NT$1.91 (vs NT$1.35 in FY 2023) Full year 2024 results: EPS: NT$1.91 (up from NT$1.35 in FY 2023). Revenue: NT$29.0b (up 4.2% from FY 2023). Net income: NT$1.73b (up 42% from FY 2023). Profit margin: 6.0% (up from 4.4% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year and the company’s share price has also fallen by 11% per year. Announcement • Mar 04
Standard Foods Corporation to Report Fiscal Year 2024 Final Results on Mar 11, 2025 Standard Foods Corporation announced that they will report fiscal year 2024 final results on Mar 11, 2025 Announcement • Feb 20
Standard Foods Corporation to Report Fiscal Year 2024 Results on Mar 04, 2025 Standard Foods Corporation announced that they will report fiscal year 2024 results on Mar 04, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.54 (vs NT$0.55 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.54 (down from NT$0.55 in 3Q 2023). Revenue: NT$7.63b (down 3.7% from 3Q 2023). Net income: NT$494.5m (down 1.5% from 3Q 2023). Profit margin: 6.5% (up from 6.3% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Oct 25
Standard Foods Corporation to Report Q3, 2024 Results on Nov 04, 2024 Standard Foods Corporation announced that they will report Q3, 2024 results on Nov 04, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.32 (vs NT$0.20 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.32 (up from NT$0.20 in 2Q 2023). Revenue: NT$6.36b (flat on 2Q 2023). Net income: NT$291.2m (up 62% from 2Q 2023). Profit margin: 4.6% (up from 2.8% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Jul 31
Standard Foods Corporation to Report Q2, 2024 Results on Aug 07, 2024 Standard Foods Corporation announced that they will report Q2, 2024 results on Aug 07, 2024 Upcoming Dividend • Jul 11
Upcoming dividend of NT$1.25 per share Eligible shareholders must have bought the stock before 18 July 2024. Payment date: 16 August 2024. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (3.2%). Buy Or Sell Opportunity • Jul 01
Now 20% undervalued Over the last 90 days, the stock has risen 13% to NT$43.25. The fair value is estimated to be NT$53.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.6% over the last 3 years. Earnings per share has declined by 38%. Buy Or Sell Opportunity • Jun 25
Now 21% undervalued Over the last 90 days, the stock has risen 13% to NT$42.75. The fair value is estimated to be NT$53.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.6% over the last 3 years. Earnings per share has declined by 38%. Announcement • Jun 21
Standard Foods Corporation Approves Cash Dividends, Payable on August 16, 2024 Standard Foods Corporation approved cash dividends to common share holders TWD 1,143,861,989 (TWD 1.25 per share). Ex-rights (ex-dividend) trading date: July 18, 2024. Payment date of common stock cash dividend distribution on August 16, 2024. Ex-rights (ex-dividend) record date of July 24, 2024. Declared Dividend • Jun 21
Dividend reduced to NT$1.25 Dividend of NT$1.25 is 3.1% lower than last year. Ex-date: 18th July 2024 Payment date: 16th August 2024 Dividend yield will be 2.9%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 12% to shift the payout ratio to a potentially unsustainable range, which is less than the 14% EPS decline seen over the last 5 years. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$0.52 (vs NT$0.29 in 1Q 2023) First quarter 2024 results: EPS: NT$0.52 (up from NT$0.29 in 1Q 2023). Revenue: NT$6.80b (up 16% from 1Q 2023). Net income: NT$476.9m (up 81% from 1Q 2023). Profit margin: 7.0% (up from 4.5% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: NT$1.35 (vs NT$1.34 in FY 2022) Full year 2023 results: EPS: NT$1.35 (up from NT$1.34 in FY 2022). Revenue: NT$27.8b (down 3.9% from FY 2022). Net income: NT$1.23b (up 1.0% from FY 2022). Profit margin: 4.4% (up from 4.2% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: NT$0.20 (vs NT$0.18 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.20 (up from NT$0.18 in 2Q 2022). Revenue: NT$6.32b (up 5.5% from 2Q 2022). Net income: NT$179.4m (up 12% from 2Q 2022). Profit margin: 2.8% (up from 2.7% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 13
Upcoming dividend of NT$1.29 per share at 3.1% yield Eligible shareholders must have bought the stock before 20 July 2023. Payment date: 17 August 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.5%). Reported Earnings • Jul 12
First quarter 2023 earnings released: EPS: NT$0.29 (vs NT$0.36 in 1Q 2022) First quarter 2023 results: EPS: NT$0.29 (down from NT$0.36 in 1Q 2022). Revenue: NT$5.88b (down 13% from 1Q 2022). Net income: NT$262.9m (down 20% from 1Q 2022). Profit margin: 4.5% (down from 4.9% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • May 13
Standard Foods Corporation Announces Setting Up Sustainable Development Committee Standard Foods Corporation announced setting up Sustainable Development Committee and the appointment of committee's members. George Chou, Independent Director, David Wang, Independent Director and Arthur Tsao, CEO as member of Sustainable Development Committee. Effective date of the new member is May 11, 2023. The tenure is the same as current Board of Directors (May 11, 2023 ~ June 15, 2025). Reported Earnings • Apr 06
Full year 2022 earnings released: EPS: NT$1.34 (vs NT$2.70 in FY 2021) Full year 2022 results: EPS: NT$1.34 (down from NT$2.70 in FY 2021). Revenue: NT$28.9b (down 16% from FY 2021). Net income: NT$1.21b (down 51% from FY 2021). Profit margin: 4.2% (down from 7.2% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director David Wang was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 19
Second quarter 2022 earnings released: EPS: NT$0.18 (vs NT$0.90 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.18 (down from NT$0.90 in 2Q 2021). Revenue: NT$5.99b (down 19% from 2Q 2021). Net income: NT$161.0m (down 80% from 2Q 2021). Profit margin: 2.7% (down from 11% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 12% per year. Upcoming Dividend • Jul 14
Upcoming dividend of NT$1.90 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 17 August 2022. Payout ratio is on the higher end at 78%, however this is supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.8%). Announcement • Jun 18
Standard Foods Corporation Announces Cash Dividend, Payable on August 17, 2022 Standard Foods Corporation announced cash dividend to common share holders is TWD 1,738,670,223 for the year 2021, at the AGM held on June 17, 2022. Ex-rights (ex-dividend) trading date is July 21, 2022. Ex-rights (ex-dividend) record date is July 27, 2022. The cash dividend will be payable on August 17, 2022. Reported Earnings • May 18
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: NT$0.36 (down from NT$0.62 in 1Q 2021). Revenue: NT$6.73b (down 19% from 1Q 2021). Net income: NT$327.0m (down 42% from 1Q 2021). Profit margin: 4.9% (down from 6.8% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 32%. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 5% per year. Buying Opportunity • May 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.0%. The fair value is estimated to be NT$62.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has declined by 4.2%. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Ben Chang was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Apr 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.8%. The fair value is estimated to be NT$62.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has declined by 4.2%. Reported Earnings • Apr 02
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$2.70 (down from NT$3.54 in FY 2020). Revenue: NT$34.3b (flat on FY 2020). Net income: NT$2.46b (down 24% from FY 2020). Profit margin: 7.2% (down from 9.3% in FY 2020). Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 32%. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year. Buying Opportunity • Feb 14
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be NT$64.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Announcement • Dec 30
Standard Foods Taiwan Reg S GDR to Be Deleted from Other OTC Standard Foods Taiwan Ltd. Reg S GDR will be deleted from other OTC effective from December 30, 2021, due to ADR /GDR Program Terminated. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.65 (vs NT$1.05 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$8.67b (down 9.7% from 3Q 2020). Net income: NT$590.6m (down 38% from 3Q 2020). Profit margin: 6.8% (down from 9.9% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 2% per year. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.90 (vs NT$1.08 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$7.41b (down 6.9% from 2Q 2020). Net income: NT$815.6m (down 17% from 2Q 2020). Profit margin: 11% (down from 12% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Jul 19
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 26 July 2021. Payment date: 20 August 2021. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.7%). Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.62 (vs NT$0.67 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: NT$8.27b (up 24% from 1Q 2020). Net income: NT$565.0m (down 7.3% from 1Q 2020). Profit margin: 6.8% (down from 9.1% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$3.54 (vs NT$3.76 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$34.5b (up 10% from FY 2019). Net income: NT$3.21b (down 6.0% from FY 2019). Profit margin: 9.3% (down from 11% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Mar 06
Standard Foods Corporation Announces Accounting Officer Changes Standard Foods Corporation announced appointment of Thomas Huang /accounting manager as accounting officer in place of Jimmy Chen /general manager's office manager, effective March 5, 2021. Is New 90 Day High Low • Jan 07
New 90-day low: NT$59.80 The company is down 3.0% from its price of NT$61.50 on 08 October 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 5.0% over the same period. Is New 90 Day High Low • Dec 14
New 90-day low: NT$60.20 The company is down 5.0% from its price of NT$63.50 on 15 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is flat over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$1.05 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$9.60b (up 20% from 3Q 2019). Net income: NT$951.2m (down 8.6% from 3Q 2019). Profit margin: 9.9% (down from 13% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. 
