Nidec Announces Annual Dividend Payout from Retained Earnings

Rhea-AI Summary

Nidec (TOKYO: 6594; OTC US: NJDCY) announced on May 24, 2024, that its Board of Directors approved a dividend payout from retained earnings. The annual dividend for the fiscal year ending March 31, 2024, is set at 75 yen per share, including a year-end dividend of 40 yen per share and an interim dividend of 35 yen per share. This represents an increase from the previous year's total annual dividend of 70 yen per share. The total dividend amount is approximately 23,003 million yen, with an effective date of June 3, 2024. Nidec emphasizes stable dividend payments and aims for a dividend payout ratio around 30% of consolidated net profit.

Positive

• Annual dividend increased to 75 yen per share from 70 yen in the previous year.
• Total dividend payout of 23,003 million yen, up from 20,133 million yen last year.
• Effective dividend date set for June 3, 2024, providing timely returns to shareholders.
• Nidec aims for a dividend payout ratio around 30% of consolidated net profit, indicating strong shareholder-oriented management.

Negative

• Dividend per share remains unchanged at 40 yen as forecasted in April 2024.
• No significant increase in the year-end dividend compared to the interim dividend of 35 yen.

KYOTO, Japan--(BUSINESS WIRE)-- Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (the “Company”) today announced that the Company resolved at a meeting of its Board of Directors held on May 24, 2024 to distribute retained earnings (date of record: March 31, 2024) in the form of an annual dividend as outlined below:

	Determined amount	Previous annual dividends forecast (Announced on April 23, 2024)	(Reference) Annual dividends for the fiscal year ended March 31, 2023
Record date	March 31, 2024	March 31, 2024	March 31, 2023
Dividend per share	40 yen	40 yen	35 yen
Total dividend amount	23,003 million yen	-	20,133 million yen
Effective date	June 3, 2024	-	June 1, 2023
Dividend resource	Retained earnings	-	Retained earnings

In our policy on profit distribution as well, the Company upholds shareholder-oriented management and places importance on stable dividend payments, seeking to increase its dividend payout to around 30% of the consolidated net profit. Based on this dividend policy and in comprehensive consideration of its financial position, profit levels and dividend payout ratio, the Company has decided to reward its shareholders with a year-end dividend of 40 yen per share. This translates into an annual dividend of 75 yen per share together with the interim dividend of 35 yen per share for the year ended March 31, 2024.

	Dividend per share
Record Date	Interim	Year-end	Total
Annual dividends per share for the year ended March 31, 2024	35 yen	40 yen	75 yen
(Reference) Annual dividends per share for the year ended March 31, 2023	35 yen	35 yen	70 yen

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240523653658/en/

Teruaki Urago

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Source: Nidec Corporation

FAQ

What is the total annual dividend per share for NJDCY for the fiscal year ending March 31, 2024?

The total annual dividend per share for NJDCY is 75 yen.

When is the effective date for Nidec's annual dividend payout?

The effective date for the dividend payout is June 3, 2024.

How much is Nidec's year-end dividend per share for the fiscal year ending March 31, 2024?

Nidec's year-end dividend per share is 40 yen.

What was Nidec's total dividend amount for the fiscal year ending March 31, 2024?

The total dividend amount for the fiscal year ending March 31, 2024, is approximately 23,003 million yen.

What is Nidec's dividend payout policy?

Nidec aims to maintain a dividend payout ratio of around 30% of its consolidated net profit, emphasizing stable dividend payments.