17 August, 2005

Japan: Asahi plans to increase its dividend payout ratio to at least 20 %

Japan’s Asahi Breweries plans to increase its dividend payout ratio to at least 20 % on a consolidated basis in the year through December 2005, according to Asia Pulse . While Asahi has a performance-linked dividend policy in place, this is the first time that it has set a numerical target.

While the company will keep its dividend policy unchanged, there is a possibility that the dividend amount may increase if performance improves. Currently, the annual dividend is the same as last year's at 15 yen, but it may increase to 17 yen if the company meets its net profit projections. Group net profit is expected to surge 34 per cent to 41 billion yen (US$368 million).

Once the firm posted a 25 billion yen extraordinary charge to account for losses on the disposal of real estate assets last fiscal year, it has created a "corporate structure that allows for the accumulation of net profit," according to a senior managing director.

Fiscal 2005 is the last year in Asahi's three-year plan, under which it has earmarked 100 billion yen for mergers and acquisitions as well as 60 billion yen for dividends and stock buybacks.

In 2004, the company raised its yearly dividend by 2 yen to 15 yen.

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