SUMIDA: Investor News
SUMIDA CORPORATION (hereafter “the Company”) announces that its Board of Directors has passed a resolution at the meeting held on April 28, 2020 not to pay the dividend of surplus, with March 31 as the record date.
1. Details of the Dividend
First Quarter Dividend of FY2020
| Amount Determined | Most Recent Dividend Forecast (Announced on February 6, 2020) |
Actual Dividend in the Previous Fiscal Year (First Quarter Dividends in FY2019) |
|
| Record Date | March 31, 2020 | Same as on the left | March 31, 2019 |
| Dividend per Share | 0 yen | 6 yen | 6 yen |
| Total Amount of Dividend Paid | 0 | - | 162 million yen |
| Effective Date | - | - | May 31, 2019 |
| Source of Dividends | - | - | Retained earnings |
2. Reason
The Company’s basic policy for the return of profits to shareholders is to deliver dividends in consideration of a consolidated dividend payout ratio (25% to 30%) with top priority on the profit distribution through dividends.
There is no prospect of the financial impact of the Novel Coronavirus (COVID-19) to the FY2020 net income currently, however, since a severe impact is expected, we have regrettably decided not to pay first quarter dividends.
3. Revision of FY2020 Dividend Forecast
| Dividend Payment (yen) | |||||
| Q1 | Q2 | Q3 | Year-end | Total | |
| Dividend payout for 2020 (Previous Forecast) | 6 JPY | 6 JPY | 6 JPY | 6 JPY | 24 JPY |
| Revised Forecast | 0 JPY | - | - | - | - |
Note: The dividend for the 2nd quarter and onwards is not yet decided.