Sumitomo Electric Industries, Ltd. (”the Company”) announces that the Company’s Board of Directors resolved at the meeting held on May 19, 2020 the amount of year-end dividend to be paid for the fiscal year ended March 31, 2020 as follows.
This resolution will be placed on the agenda at the 150th Ordinary General Meeting of Shareholders scheduled on June 25 , 2020.
- Dividend payments
| Determined distribution | Latest Forecast (February 5, 2020) | Results for the previous fiscal year, ended March 31, 2019 | |
| Record date | March 31, 2020 | March 31, 2020 | March 31, 2019 |
| Dividend per share | 16.00 yen | 24.00 yen | 24.00 yen |
| Total dividend payout | 12,481 million yen | – | 18 ,722 million yen |
| Effective date | June 26, 2020 | – | June 24, 2019 |
| Fund source | Retained earnings | – | Retained earnings |
- Reason
Our basic policy for dividend is to maintain stable dividend payout and make comprehensive judgement based on consolidated financial results, dividend payout ratio, level of retained earnings, etc. As announced today, consolidated operating income, ordinary income and profit attributable to owners of the parent for FY2019 were less than each result for the previous fiscal year, as well as the annual forecast announced on February 5, 2020.
Based on the above, the Company plans to set the year-end dividend at 16 yen per share, a decrease of 8 yen from the latest forecast 24 yen per share.
( Reference) Annual Dividends Breakdown
| Reference) Annual Ordinary Dividend Br | eakdown | Dividend per share (yen) | ||
| Record date | Interim | Year-End | Total | |
| Fiscal year ended March 31, 2020 | 24.00 | 16.00 | 40.00 | |
| Fiscal year ended March 31, 2019 | 24.00 | 24.00 | 48.00 |
SOURCE: Sumitomo Electric
