TPE:2105

Cheng Shin Rubber's Units Declare Dividends

Cheng Shin Rubber's (TPE:2105) unit Maxxis Trading declared a cash dividend of $25.5 million, according to a Wednesday Taiwan Exchange filing.Another company unit, Maxxis Holdings (BVI), also declared a cash dividend of $25.5 million, according to a separate same-day filing.The dividends will be distributed to shareholders based on their ownership interests, the company said.

Morgan Stanley Downgrades Cheng Shin Rubber to Underweight from Equalweight; Price Target is NT$29.50