SUMIDA: Investor News

Notice Concerning Dividend of Surplus (No Dividends)

October 30th 2020 Press Release

SUMIDA CORPORATION (hereafter “the Company”) announces that its Board of Directors has passed a resolution at the meeting held on October 30, 2020 not to pay the dividend of surplus, with September 30 as the record date.

1. Details of the Dividend

Third Quarter Dividend of FY2020

  Amount Determined Most Recent Dividend Forecast
(Announced on September 25, 2020)
Actual Dividend in the Previous Fiscal Year
(Third Quarter Dividends in FY2019)
Record Date September 30,2020 Same as on the left September 30, 2019
Dividend per Share 0 yen 0 yen 6 yen 
Total Amount of Dividend Paid 0 - 162 million yen
Effective Date - - November 28, 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.

During the COVID-19 pandemic, Sumida Group has taken precautionary measures to prevent from virus infections in all its locations and implemented methods to maintain normal operation, e.g. working from home as needs must in all the working locations. Business processes have been reviewed, in order to be able to work without sacrificing productivity during the COVID-19 pandemic.

Although a new wave of COVID-19 is surging in countries around the world, the business performance of the Company tends to be getting better and is expected to grow steadily. On the other hand, the impact of the performance in the first half of FY2020 on the full-year consolidated financial performance of the Company is high, and there is no prospect for an end of the COVID-19 pandemic currently. Therefore, regrettably, the Company will not pay third quarter dividends.

3. FY2020 Dividend Forecast 

  Dividend Payment (yen)
Q1 Q2 Q3 Year-end Total
Dividend for 2020 0 JPY 0 JPY 0 JPY - -

Note: The year-end dividend is undecided.

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