To whom it may concern:
November 6, 2017
Company name: Mitsubishi Estate Co., Ltd. Representative: Junichi Yoshida,
President and Chief Executive Officer Securities code: 8802
Contact: Masato Kawasaki, General Manager of the
Corporate Communications Department Telephone: +81-3-3287-5200
Announcement of Revision of Dividends (Increase in Dividends) of Surplus and Year-end Dividend ForecastsMitsubishi Estate Co., Ltd. (hereafter the "Company") hereby announces that at the meeting of its Board of Directors held on November 6, 2017, the Company resolved to conduct a dividend distribution of its surplus with September 30, 2017 as the record date. Furthermore, there have been revisions made to the year-end dividend forecast for fiscal year ending March 2018 (April 1, 2017 - March 31, 2018) announced on May 10, 2017. The details can be found below.
Details of Interim Dividend Distribution (Fiscal year ending March 2018)
Amount determined
Most Recent Dividend Forecast
(Announced May 10, 2017)
Dividends for the previous fiscal year
(Second Quarter of FY2017)
Record date
September 30, 2017
September 30, 2017
September 30, 2016
Dividend per share
(JPY)
¥12
¥10
¥9
Total Dividends
¥16,655 million
-
¥12,489 million
Effective Date
December 4, 2017
-
December 2, 2016
Dividend Resource
Retained Earnings
-
Retained Earnings
Details of Year-end Dividend Revision (Fiscal year ending March 2018)
Dividend per Share (JPY)
Record date
End of Second Quarter
Year-end
Annual
Previous Dividend Forecast (announced
May 10, 2017)
¥10
¥10
¥20
Revised Dividend
Forecast
¥12
¥24
Actual Dividends for
Current Fiscal Year (ending March 2018)
¥12
Actual Dividends for
Previous Fiscal Year (ended March 2017)
¥9
¥11
¥20
Reason for the Announcement
Although the Company recognizes capital requirements for future business developments such as the redevelopment of Marunouchi, it focuses on dividends and the provision of a stable return to all shareholders as a key point of the basic policy on dividends. While overall performance levels etc. will also be taken into account, the Company has decided to aim for consolidated payment ratio of 25% to 30%.
As there was an upward revision to the consolidated forecast for the full fiscal year ending March 2018, in line with the dividend policy, the Company has decided to increase the interim dividend by ¥2 per share from the previous forecast, to ¥12 per share and the year-end dividend by ¥2 per share from the previous forecast, to ¥12 per share.
Accordingly, the annual dividend will be ¥24 per share, increased by ¥4 per share from the previous forecast.
(End)
Mitsubishi Estate Co. Ltd. published this content on 06 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 November 2017 06:03:05 UTC.
Original documenthttp://www.mec.co.jp/e/news/pdf/mec171106_timely_disclosure_e.pdf
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