Major Japanese Firms' Annual Dividends to Hit Record High

Economy

Tokyo, March 19 (Jiji Press)--Major Japanese companies' dividends for the business year through March 31 are projected to hit a record high for the sixth straight year, a Jiji Press survey showed on Tuesday.

The survey covered 1,490 companies listed on the first section of the Tokyo Stock Exchange. Of them, 63 companies, including Toyota Motor Corp. <7203>, that have not released dividend projections for the year were assumed to pay equal amounts to the previous year's dividends.

The surveyed companies' annual dividends are expected to total 11,670 billion yen, up 9 pct from the previous year, the survey found.

Although the first-section companies' consolidated net profits are estimated to decrease 3 pct in the current business year, 615, or about 40 pct, of them plan to increase dividend payments.

Among these companies, automotive parts maker Denso Corp. <6902> and motor maker Nidec Corp. <6594> kept unchanged their respective plans to pay higher dividends, following recent downward revisions to their earnings projections.

[Copyright The Jiji Press, Ltd.]

Jiji Press