Notice of dividends of surplus (increase in dividends)
PARCO CO., LTD.
April 6, 2017
At a meeting of the Board of Directors on April 6, 2017, PARCO Co. Ltd. (“PARCO”) resolved to distribute dividends of surplus with the record date of February 28, 2017.
1. Details of dividends
| Amount determined | Most recent dividend forecast (Announced Dec. 26, 2016) |
Previous year result (Fiscal year ended Feb. 2016) |
|
| Record date | February 28, 2017 | February 28, 2017 | February 29, 2016 |
| Dividend per share | 12.00 yen | 11.00 yen | 10.00 yen |
| Total amount of dividends | 1,217 million yen | - | 1,014 million yen |
| Effective date | May 8, 2017 | - | May 9, 2016 |
| Source of dividends | Retained earnings | - | Retained earnings |
2. Reasons
The return of earnings to shareholders through continued growth and medium-to-long-term enhancement of corporate value is one of PARCOʼs key policies. Dividend payments are determined in consideration of earnings performance and payout ratio based on our policy of maintaining a stable level of dividends to shareholders.
In line with this basic policy, we had planned to pay a year-end dividend of 11 yen per share for FY2016, up by 1 yen from FY2015. As announced today, however, net income attributable to shareholders for FY2016 exceeds our initial projection. This prompts us to raise our planned year-end dividend per share by 1 yen to 12 yen, bringing the full-year total to 23 yen.
(Reference) Breakdown of annual dividend
| Dividend per share (yen) | |||
| Record date | Interim | Year-end | Annual |
| FY2016 | 11.00 | 12.00 | 23.00 |
| FY2015 | 10.00 | 10.00 | 20.00 |