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Sapporo boosts dividend.

Sapporo Breweries Ltd., Japan's third largest beer maker, will boost its annual dividend this year, according to a report in the Wall Street Journal.

The annual dividend is expected to rise to seven yen (seven U.S. cents) from five yen for the year ending Dec. 31.

"We want to make sure that our payout ratio stays well above 33%," a company spokesperson said (Payout ratio refers to the percentage of net profit that goes to shareholders).

Sapparo expects its net income to exceed five billion yen this year ($46.9 million), a jump of about 36 percent.

Sapporo said that, excluding special dividends to commemorate anniversaries and special occasions, this is the first time in 21 years that Sapporo has raised its payout.
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Title Annotation:Sapporo Breweries Ltd.
Publication:Modern Brewery Age
Date:Aug 2, 1993
Words:124
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