DISCO Announces a Dividend Payment and a Revision to the Dividend Payment Forecast for Fiscal Year 2008
DISCO Corporation ("the Company") today announced that its Board of Directors adopted a resolution on the dividend payment for its retained earnings whose record date is September 30, 2008. DISCO Corporation also announced a revision to its dividend payment forecast for fiscal year 2008 in accordance with the revision to its earnings forecast.
| 1. |
Dividend for the first half of FY2008 |
|
Resolved |
Previous forecast
(August 2008) |
Results of the previous term
(term ended March 31, 2007) |
| Base date |
September 30, 2008 |
September 30, 2008 |
September 30, 2007 |
| Dividend per share |
10 yen |
15 yen |
35 yen |
| Total amount of dividend |
339 million yen |
- |
1,189 million yen |
| Effective date |
December 10, 2008 |
- |
December 10, 2007 |
| Source of dividend |
Earned surplus |
- |
Earned surplus |
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| 2. |
Dividend for the first half of FY2008 |
|
Dividend per share |
| Record date |
Intermediate dividend |
Year-end dividend |
Annual dividend |
Previous forecast
(Announced August 8, 2008) |
15 yen |
23 yen |
38 yen |
| Revised forecast |
- |
10 yen |
20 yen |
| Actual |
10 yen |
- |
- |
| Results of the previous term |
35 yen |
44 yen |
79 yen |
|
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| 3. |
Reason for the revision |
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To improve the transparency of the Company's stance prioritizing the return of profits to shareholders, the dividend payout ratio is set at 20% of the consolidated net income. However, notwithstanding this net income linked-benchmark, the Company will strive to maintain an annual dividend payment of not less than 20 yen per share as a stable base dividend. In May 2008, the Company added a condition to lift the payout ratio to 24% linking the four-year accumulated ordinary profit to sales ratio achieving 20% or more.
Taking into account the recent stagnating business environment due to a global economic downturn, the Company revised its earning forecast for FY2008. Based on this revised forecast net income, the forecasted dividend amount will be 19 yen per share when applying the 20% payout ratio. Thus, the Company will apply 20 yen per share as a stable base dividend for FY2008. Based on the above reasons, the dividend payment per share for the record date (September 30, 2008) is 10 yen.
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Contact: Keizo Sekiya
Phone: 81-3-4590-1099 |
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