Mitsubishi Corporation Revises Fiscal 2009 Annual Ordinary Dividend Forecast

Mitsubishi Corporation (MC) has announced that it has decided to revise the forecast annual ordinary dividend per share applicable to fiscal 2009, the fiscal year ending March 31, 2009, as follows.

 

Basing its dividend policy on using retained earnings to accelerate growth and maximize corporate value, MC targets to increase the annual dividend per share through earnings growth, with a consolidated payout ratio of 20%, and thereby increase shareholder returns.

 

In accordance with this basic policy, at the end of October 2008 MC announced plans to pay an annual ordinary dividend of around 64 yen per common share for fiscal 2009, providing it achieved its then full-year consolidated net income forecast of 520.0 billion yen.

 

In light of today’s downward revision of projected fiscal 2009 consolidated net income to 420.0 billion yen, as detailed in a separate press release, MC has lowered its forecast for the annual ordinary dividend per common share by 12 yen to around 52 yen, providing it achieves the revised consolidated net income forecast. The final dividend proposal for shareholder approval will be decided based on fiscal 2009 consolidated net income.

 

	Interim Dividend	Year-end Dividend Forecast	Annual Dividend Forecast
Previous forecast (announced October 31, 2008)	36 yen	28 yen	64 yen
Revised forecast	36 yen	16 yen	52 yen

    (Reference)

Fiscal 2008

26 yen

30 yen

56 yen

 

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