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Indiaexportnews.com

Mitsui O.S.K. Lines, Ltd. announces revision of dividend payout

  30.04.2007    

Mitsui O.S.K. Lines, Ltd. announced a resolution to pay dividend of reserve which base date is March 31, 2007, as follows:

1.Details of dividend

Resolved amountImmediate dividend forecast (announced on Feb. 8, 2007)FY2005 dividend paid
(Ended on March 31, 2006)
Base dateMarch 31, 2007Same as leftMarch 31, 2006
Dividend per share11.00 yen9.00 yen9.00 yen
Total amount of dividend13,156 million yen10,767 million yen
Date to start effectiveJune 22, 2007June 23, 2006
Dividend sourceRetained earningsRetained earnings

2.Reasons

The Company regards increasing corporate value with proactive capital investment and direct return of profits to shareholders through dividends as two key management policies. Based on the newly formulated midterm management plan MOL ADVANCE, the company continues to proactively invest mainly on vessels. We utilize internal capital reserves to cover investment funds while reinforcing corporate strength, so the Company will maintain a dividend payout ratio of around 20% in the foreseeable future. But we will work on increase of the payout ratio as a mid- and long-term management task.
Reflecting this dividend policy, the Company decided to revise the year-end dividend by increasing it 2yen from the current forecast of 9yen per share to 11yen, and the annual dividend to 20 yen per share (including an interim dividend of 9 yen already paid) for FY2006. Meanwhile, this matter is planned to be brought to the Annual General Meeting of Shareholders which is slated to hold on June 21, 2007, for discussion.





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