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 amount||Immediate dividend forecast (announced on Feb. 8, 2007)||FY2005 dividend paid |
(Ended on March 31, 2006)
|Base date||March 31, 2007||Same as left||March 31, 2006|
|Dividend per share||11.00 yen||9.00 yen||9.00 yen|
|Total amount of dividend||13,156 million yen||–||10,767 million yen|
|Date to start effective||June 22, 2007||–||June 23, 2006|
|Dividend source||Retained earnings||–||Retained earnings|
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.