Kewpie : Notice of Distribution of Retained Earnings
January 21, 2022 at 11:52 am IST
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(Translation)
January 21, 2022
Dear Sirs:
Name of the Company:
Kewpie Corporation
Representative:
Osamu Chonan,
Representative Director, President and
Chief Executive Corporate Officer
(Code No. 2809; the first section of the Tokyo Stock Exchange)
Person to contact:
Takeshi Kitagawa,
Senior General Manager of
Management Promotion Division
(TEL: 03-3486-3331)
Notice of Distribution of Retained Earnings
Notice is hereby given that Kewpie Corporation (the "Company"), at the meeting of its Board of Directors held today, resolved to distribute retained earnings with the record date being November 30, 2021, as described below:
Description
1. Details of dividends (year-end dividends):
Most Recent Forecast
Actual Result for
Payment Amount
Previous Fiscal Year
(Released on
(Year Ended
January 11, 2022)
November 30, 2020)
Record Date
November 30, 2021
November 30, 2021
November 30, 2020
Dividend per Share
¥27.00
¥27.00
¥20.00
Total Amount of
¥3,753 million
-
¥2,860 million
Dividends
Effective Date
February 7, 2022
-
February 5, 2021
Source of Dividends
Retained Earnings
-
Retained Earnings
- 1 -
2. Reasons:
The Company maintains a basic policy of providing returns to its shareholders with top priority on dividend payments, and provides returns to shareholders based on the policy set forth in each Medium-term Business Plan.
In determining dividends under the Medium-term Business Plan through 2024, with its assumption that the annual dividend per share would be ¥45 or more, the Company aims to set target for consolidated dividend payout ratio of 35% or more and accumulated total return ratio over four fiscal years of 50% or more.
Accordingly, the management has determined to pay a year-end dividend of ¥27.00 per share. Thus, the annual dividend for the fiscal year under review will be ¥47.00 per share and the consolidated dividend payout ratio will be 36.7%, respectively.
The Articles of Incorporation of the Company stipulate that the Company can pay dividends from retained earnings twice a year, comprising of interim and year-end dividends based on the resolution by the Board of Directors in accordance with the provisions of Article 459, paragraph 1 and Article 454, paragraph 5 of the Companies Act.
(for reference) Contents of Annual Dividends:
Dividend per Share (Yen)
Record Date
End of 2nd Quarter
Year-end
Annual
Actual Result for the
Year Ended
¥20.00
¥27.00
¥47.00
November 30, 2021
Actual Result for the
Year Ended
¥20.00
¥20.00
¥40.00
November 30, 2020
- END -
- 2 -
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Disclaimer
Kewpie Corporation published this content on 21 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2022 06:21:03 UTC.
Kewpie Corp is engaged in manufacture and sale of food products. The Company operates in six business segments. The Retail Market segment manufactures and sells mayonnaise, dressings, pasta sauces, delicatessen foods, packaged salads, baby foods, nursing care foods and others in the retail market. The Food Service segment manufactures and sells mayonnaise, dressings, vinegar, liquid eggs, frozen eggs, dried eggs, egg processed food and others in food service market. The Overseas segment manufactures and sells mayonnaise, dressings in China, Southeast Asia, North America markets. The Fruit Solutions segment manufactures and sells jams for household use and processed fruit products for industry use. The Fine Chemicals segment manufactures and sells hyaluronic acid and egg yolk lecithin as an ingredient for pharmaceuticals, cosmetics and foods. The Common segment sells food and food manufacturing machines.