KYOTO, Japan, April 25, 2006 (PRIMEZONE) -- Nidec Corporation (the "Company") (NYSE:NJ) (Tokyo, Osaka:6594) resolved at a meeting of its Board of Directors today to revise upward its year-end dividend forecast for the year ended March 31, 2006.
Reasons for revision
Nidec Corporation stands by a stable dividend policy and seeks to increase dividends in the way that reasonably reflects the Company's earnings conditions. In principle, approximately 10% of the Company's consolidated net income is being appropriated for dividends.
The Company announced in its interim financial report released on October 28, 2005 that it would raise its forecast for interim and year-end per share dividends for the year ended March 31, 2006 to 25, and 15 (See Note), respectively, reflecting the favorable interim results and prospect of a year-on-year improvement in the annual results. The payment of the interim dividend of 25 per share was implemented on schedule.
The Company decided today to further increase the year-end dividend per share by 5 to 20, given its consolidated results for the year ended March 31, 2006. As a result, the Company's annual dividend per share for the year ended March 31, 2006 totals 45.
Note: The dividend amount reflects the two-for-one stock split
implemented in the second half of the year ended March 31,
2006. On a pre-split basis, the dividend amount translates
into 30 per share.
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Dividend per share for the year ended
March 31, 2006 Dividend per share for
---------------------------------------- the year ended
Previous forecast Revised March 31, 2005
-as of Oct. 28, 2005- forecast
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Interim 25.00 25.00 20.00
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Year-end 15.00 (30.00)(a) 20.00 (40.00)(a) 25.00
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Annual 40.00 (55.00)(a) 45.00 (65.00)(a) 45.00
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(a) The parenthetic amounts indicate dividends per share on a
pre-split basis.
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