Kennedix Announces Revision to Dividend Forecasts for FY2006.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, July July: see month. 18, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Kenedix Inc.'s Board of Directors passed a resolution to make an upward revision to the year-end dividend Year-end dividend A special dividend declared at the end of a fiscal year that usually represents distribution of higher-than-expected company profits. year-end dividend See final dividend. forecast for fiscal year 2006 (January January: see month. 1, 2006 - December December: see month. 31, 2006) at a meeting held on July 18, 2006. The official decision on year-end dividends will be made at the 12th Ordinary General Meeting of Shareholders, to be held in March 2007. 1. Reason for Revision of Dividend Forecast The Company feels that returning profits to its shareholders is an important management issue, and its basic policy holds for stable dividends in line with consolidated earnings. The Company bases its decisions on dividends on a comprehensive assessment of earnings trends, the level of internal reserves needed for future growth and the dividend payout ratio Dividend Payout Ratio The percentage of earnings paid to shareholders in dividends. Calculated as: . Accordingly, in light of full-year earnings that have surpassed initial estimates, the Company has decided to raise the year-end dividend payment as shown below in order to maintain the FY2005 consolidated dividend payout ratio. 2. Revisions to FY2006 Dividend Estimates
Interim dividend Year-end dividend Annual dividend
Previous estimate -- 1,500 yen 1,500 yen
(As of February 14, 2006)
Current revision -- 2,500 yen 2,500 yen
FY2005 dividends -- 1,250 yen 1,250 yen
About Kenedix, Inc. Kenedix, founded in April 1995, initially introduced and promoted real estate auctions to Japanese investors and financial institutions. Today, the Kenedix Group is an organization advanced in a broad range of real estate services and finance. The Group's overall goal is to maximize returns on investments, accomplished by leveraging the Group's comprehensive research skills and extensive knowledge of the real estate business to accurately analyze and evaluate trends in a constantly changing market. Kenedix is working to become one of Japan's most prominent real estate asset managers, while building a highly stable and profitable corporate group. For more information, please visit www.kenedix.com. Source: Kenedix, Inc. Contact: Kenedix, Inc. Taiji Yoshikawa Chief Financial Officer +81-3-3519-2530 Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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