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Japanese major steel firms dividends seen topping JPY 10 trillion-2018 China(Guangzhou)Int’l Metal &Metallurgy Exhi
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3/23/2018 金屬展-冶金展-鋼鐵展-steel expo-metal &metallurgy expo |
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Jiji Press reported that shareholder dividends at companies that are listed on the Tokyo Stock Exchange’s First Section and close their books in March are expected to top JPY 10 trillion for the first time in the current business year ending this month. Jiji Press survey showed that the survey covered 1,391 firms that release consolidated earnings results. Their combined dividends are seen growing 9 percent from the previous year to JPY 10.35 trillion, marking a record high for the fifth straight year.
The final total may prove higher than the estimated level because the survey assumed that 62 companies, including Toyota Motor Corp., that have yet to release payout plans for the full year will pay the same amounts as in the previous year.
Of the total, 591 firms, or more than 40 percent, plan to increase dividend payments.
Nippon Steel & Sumitomo Metal Corp., which expects a marked improvement in its earnings thanks to the recovery of steel prices, plans to increase its dividends by JPY 15 year on year to JPY 60 per share.
Rival steelmaking group JFE Holdings Inc. is considering boosting its dividends to JPY 80 from JPY 30.
Mitsubishi Corp which projects a 22% surge in its consolidated net profit in the current business year due to higher resources prices, and four other major trading companies also plan to increase their dividends.
The expected growth in dividend payments also reflects moves to encourage companies to boost their management transparency and corporate value through stepped-up dialogue with investors, such as a plan by the Japanese government to revise this year its corporate governance code for the first time since the code’s introduction in 2015.
The total fiscal 2017 dividend payments by all TSE First-Section firms, including companies that close their books in months other than March, are expected to reach JPY 12.21 trillion.
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