May 7, 2024 | |
Company Name | : IINO Kaiun Kaisha, Ltd. (IINO LINES) |
Representative | : Yusuke Otani, President |
Stock Code | : 9119 (shares listed on the Tokyo Stock |
Exchange Prime) | |
Contact | : Akiko Hayama, General Manager, |
Stakeholder Relations Department | |
Telephone | : +81-3-6273-3069 |
Notice Regarding Distribution of Dividends from Surplus
IINO Kaiun Kaisha, Ltd., (the Company) hereby announces that it has resolved to distribute dividends from surplus with a record date of March 31, 2024, at the meeting of the Board of Directors held today. The resolution will be submitted to the Annual General Meeting of Shareholders scheduled on June 26, 2024.
1. Details of the dividends | ||||
Most recent dividend | Dividends paid in the | |||
previous fiscal year | ||||
Amount decided | forecast (announced | |||
(fiscal year ended | ||||
on January 31, 2024) | ||||
March 31, 2023) | ||||
Record date | March 31, 2024 | March 31, 2024 | March 31, 2023 | |
Dividends per share | 31.00 yen | 27.00 yen | 38.00 yen | |
Total dividends | 3,280 million yen | ― | 4,021 million yen | |
Effective date | June 27, 2024 | ― | June 29, 2023 | |
Fund used | Retained earnings | ― | Retained earnings | |
for dividends payment | ||||
2. Reasons for the payment
In addition to conventional basic policy to distribute a stable dividend to the shareholders constantly by increasing corporate value over the long term, the Company has made a policy continuing a dividend hinging on dividend payout ratio of 30% to the full year results in order to enhance the link between dividend amounts and profit growth.
The earning for the current fiscal year exceeded the latest earning forecast due to market conditions for chemical tankers have remained at a higher level than expected, as well as depreciation of the yen against the U.S. dollar.
Based on policy mentioned above and the consolidated financial results for the fiscal year ending March 31, 2024, the year-end dividend per share will be 31.00 yen, an increase of 4.00 yen per share from the latest dividend forecast, and a total dividend will be 56.00 yen per share for the full year.
End
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Iino Kaiun Kaisha Ltd. published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2024 05:02:06 UTC.