For Immediate Release
April 26, 2018
Company name: | Nippon Steel & Sumitomo Metal Corporation |
Representative: | Kosei Shindo, Representative Director and President |
Code number: | 5401 |
Contact: | Fumiaki Ohnishi, General Manager, Public Relations Center |
Telephone: | +81-3-6867-2130 |
Notice Concerning Dividends
Nippon Steel & Sumitomo Metal Corporation ("the Company") announces that the Board of Directors of the Company held on April 26, 2018 has decided to submit a request for approval of the year-end dividend as follows to the 94th General Meeting of Shareholders scheduled to be held on June 26, 2018.
1. Details of Year-end Dividend
Amount | Previous forecast (Feb. 1, 2018) | Fiscal year ended March 31, 2017 | |
Record date | March 31, 2018 | March 31, 2018 | March 31, 2017 |
Year-end dividend per share of common stock | 40 yen | 30 yen | 45 yen |
Total dividend | 35,355 million yen | ― | 39,776 million yen |
Effective date | June 27, 2018 | ― | June 28, 2017 |
Source of funds for dividend | Retained earnings | ― | Retained earnings |
2. Reason
Based on the Company's increase of profit compared to the previous earnings forecasts announced on February 1, 2018, the Company plans to request the approval of the General Meeting of Shareholders to increase the planned dividend by ¥10 and also distribute a year-end dividend payment of ¥40 per share in accordance with the basic profit distribution policy described previously announced. This would bring the full-year dividend distribution amount to ¥70 per share, representing a consolidated payout ratio of 31.7% for fiscal 2017.
(Reference) Fiscal year Dividends Breakdown
Annual ordinary dividend per share (Yen) | |||
Record date | September 30 (Interim) | March 31 (Year-end) | Fiscal year |
Fiscal year ended March 31,2018 | 30 | 40 | 70 |
Fiscal year ended March 31,2017 | 0 | 45 | 45 |
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Disclaimer
Nippon Steel & Sumitomo Metal Corporation published this content on 26 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 April 2018 04:43:01 UTC