Hanwa : Notice Concerning Dividend from Retained Earnings (Dividend Increase and Commemorative Dividend)
May 11, 2018 at 12:13 am EDT
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HKHANWA Co., Ltd.
13-1 1-chome, Tsukiji
Chuo-ku, Tokyo
JAPAN
IR News
Date: May 11, 2018
Contact: Yoichi Nakagawa
Director, Senior Managing Executive Officer
Tel: +81-3-3544-2000
Notice Concerning Dividend from Retained Earnings (Dividend Increase and Commemorative Dividend)
Hanwa Co., Ltd. ("Hanwa") announces that the Board of Directors of Hanwa, held on May 11, 2018, resolved to pay dividends with a record date of March 31, 2018, as follows:
1. Details of Dividends
Today's resolution
Recent forecast
(as of February 9, 2018)
FY2016 result
(Actual)
Record date
March 31, 2018
March 31, 2018
March 31, 2017
Dividend per share
¥75.00
(Ordinary : ¥65.00) (Commemorative : ¥10.00)
¥50.00
¥10.00
Total dividends
¥3,047 million
-
¥2,031 million
Effective date
June 25, 2018
-
June 30, 2017
Source of dividends
Retained earnings
-
Retained earnings
2. Reasons for the Determination
Hanwa considers that sustainable return to shareholders is one of the main policies. While stable dividend payment to shareholders is our primary aim, Hanwa dedicate to constant improvement in our profitability, aiming to increase dividends as improving our basic revenue level as well as returns from our strategic investments.
Having considered our better operational profit by exceeding from our initial forecasts, Hanwa decided to pay 65.00 yen per share as ordinary dividend, as well as an increase of 15.00 yen from the previous forecast of 50.00 yen. In addition, Hanwa will pay 10.00 yen per share as commemorative dividend to celebrate the 70th anniversary from our foundation and to express gratitude to its shareholders. As a result, the year-end dividend will be 75.00 yen per share.
This resolution is subject to approval at the 71th Ordinary General Meeting of shareholders scheduled for June 22, 2018.
(Reference) Outlook of the annual dividend is as follows:
Dividend per share
Record date
Interim
Year-end
Total
Dividend outlook
¥75.00
(Ordinary : ¥65.00) (Commemorative : ¥10.00)
―
Paid for FY2017
¥10.00
Paid for FY2016 (ended March 31, 2017)
¥9.00
¥10.00
¥19.00
*Effective October 1, 2017, HANWA consolidated its common shares at the ratio of 5 shares to 1 share.
Accordingly, the amount for the total annual dividends per share is omitted and shown as a dash.
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Hanwa Co. Ltd. published this content on 11 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 May 2018 04:12:02 UTC
HANWA CO., LTD. is a Japan-based company mainly engaged in the sale of steel metal raw materials, non-ferrous metals, foods, petroleum and chemical products, wood and machinery. The Company operates through six business segments. The Steel business is engaged in the provision of steel bars, construction works, steel plates, special steels, wires, steel pipes, and scrap iron. It is also engaged in the metal processing and storage. The Metal Raw Materials business is engaged in the provision of nickel, chromium, silicon, manganese, and ferroalloys. The Overseas Sales Subsidiary business is engaged in the sale of products at major overseas bases. The Petroleum and Chemicals business is engaged in the sale of petroleum products, industrial chemicals, chemicals and waste fuels. The Food business provides seafood and livestock products. The Nonferrous Metals business supplies aluminum, copper and zinc, and conducts recycling business. It also manages and operates amusement facilities.