Taipei: Shares of Formosa Plastics Corp., the flagship entity of the petrochemical conglomerate Formosa Plastics Group, returned to their prior ex-dividend level soon after the market opened Tuesday, the stock's ex-dividend date. At 12:49 p.m., Formosa Plastics had risen 2.41 percent to NT$36.05 (US$1.23) on the Taiwan Stock Exchange (TWSE), where the benchmark weighted index, the Taiex, was up 0.66 percent at 22,764.54. According to Focus Taiwan, the stock opened up NT$0.55 to make up the NT$0.5 - the amount of the cash dividend per share - deducted from its closing level Monday, and momentum continued to hit the day's high of NT$37.20 in the morning session. For companies in Taiwan that issue cash dividends annually, the ex-dividend date is the date on which a stock begins trading after the cash dividend to be paid out on the previous year's earnings has been deducted from the stock price. Dealers indicated that the buying of Formosa Plastics shares showed investors seemed pleased with the company's decis ion to issue a cash dividend of NT$0.5 per share for 2024, even after the company reported a loss for the year. Furthermore, investors appeared to be seeking bargains like Formosa Plastics, which has faced challenges in recent sessions due to the global petrochemical market's weakness. Formosa Plastics reported a net loss of NT$1.23 billion in 2024, compared with a net profit of NT$7.34 billion the previous year, with a loss per share at NT$0.19. This was attributed to a global supply glut and falling product prices and marked the company's first net loss in almost two decades. Despite the loss, Formosa Plastics decided to pay a cash dividend of NT$0.5 to shareholders to encourage them to retain the stock. Dealers noted that Formosa Plastics has continued to face difficulties in 2025 amidst American tariff threats and a stronger Taiwan dollar, which has impacted the competitive edge of many Taiwanese exporters. In the first half of this year, Formosa Plastics incurred a net loss of NT$6.58 billion, compared with a net profit of NT$1.59 billion a year earlier, with a loss per share at NT$1.03. Formosa Plastics has projected its revenue for the third quarter to decline slightly compared to the previous quarter. However, it is set to receive approximately NT$810 million in cash dividends from its securities investments, which will help bolster its financial position.