SUMIDA: Investor News

Notice on Revision of Dividend Forecast

October 29th 2021 Press Release

SUMIDA CORPORATION (the “Company”) hereby announces a revision of the third quarter and the year-end dividend forecast of the current fiscal year which was previously announced on February 8th, 2021.

1. Revision of dividend forecast

  Dividend Payment (JPY)
  Q1 Q2 Q3 Year-end Total
Previous Forecast -- -- 3.00 3.00 12.00
Revised Forecast -- -- 11.00 11.00 28.00
Dividend paid in FY2021 3.00 3.00 -- -- --
Dividend paid in previous year
(FY2020)
0.00 0.00 0.00 9.00 9.00
*The third quarter dividend will be determined at the board of directors’ meeting scheduled for October 29th, 2021.

 

2. Reasons for revision of dividend forecast

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.

When it is inappropriate to deliver dividends in accordance with the basic policy based on consolidated business results for the current fiscal year, the Company will work to enhance shareholder returns up to the amount of distributable surplus after considering Dividend on Equity (DOE) and other measures.

The Company stipulates in the Articles of Incorporation that it may allocate dividends of surplus upon a resolution of the Board of Directors, and it is the Company’s basic policy to pay dividends four times a year.

Regarding the payment method of dividends, the Company pays the amount determined in each quarter from the first quarter through the third quarter. In addition, the Company’s policy for the fourth quarter is to pay year-end dividend in order to have dividends reflect the consolidated business results of the current fiscal year and to have annual dividend in line with the above dividend policy.

The Company will utilize internal reserve funds to strengthen its financial structure and keep growth power for the future.

Based on the above policy and the positive performance the Company revised (increased) the previous dividend forecast amount for the third quarter and year-end dividends

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