MISUMI Group Announced Dividend Distribution
2. Reason for the Dividend Distribution
Effective beginning the second half of FY2011, we have increased our dividend payout ratio to 25% from 20%. This change to our shareholder return policy was announced November 9, 2011. The decision to increase shareholder returns resulted from a comprehensive review that took into account the business environment and performance trends and forecasts, as well as the levels of balance-sheet strength, capital efficiency and retained earnings required to establish a stable financial standing over the long-term, among other factors.
Sales and operating income in FY2011 renewed record highs respectively for the first time in four years.
As a result, we increase our year-end dividend to 13 yen per share (up 2.5 yen compared to the same period the previous year). This represents an increase compared to our previous forecast for a year-end dividend of 12.3 yen per sare and is due to the fact that net income beat our revised forecast. With this change, MISUMI plans to pay out annual dividends per share of 23.2 yen (up 3 yen), including the interim didend of 10.2 yen per share paid out already.
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