KYOTO, Japan, April 23, 2008 (PRIME NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (Tokyo, Osaka:6594) (the "Company") announces that its Board of Directors, at a meeting held today, has resolved on the following scheduled year-end cash dividends as of the date of record on March 31, 2008. The proposed dividends will be finalized after the financial statements for the fiscal year ended March 31, 2008 are audited and approved by the Board of Directors on May 26, 2008.
1. Dividend Details
Previous Dividend Paid
Scheduled forecast (As Fiscal Year Ended
Dividend of Feb. 1, 2008) March 31, 2007
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Date of Record March 31, 2008 March 31, 2008 March 31, 2007
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Dividend
Per Share 30 yen 25 yen 25 yen
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Total Amount of 4,348 million
Dividends(*) yen - 3,618 million yen
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Effective Date June 10, 2008 - June 8, 2007
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Source of Retained - Retained
Dividends Earnings Earnings
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(*) Total Amount of Dividends represented by millions of yen has been rounded to the nearest million yen.
2. Reasons for revision
The Company stands by a stable dividend policy and seeks to increase dividends in the way that reasonably reflects the Company's earnings conditions. In line with this policy, the Company announced on October 27, 2006 to raise its target payout ratio from 10% to 15% of its consolidated net income.
Based on our consolidated results for the year ended March 31, 2008 announced today, the Company has decided to revise the year-end dividend for the year ended March 31, 2008 from 25 yen per share to 30 yen per share. This results in an annual dividend of 55 yen per share, an increase of 10 yen per share from the year-ago level and payout ratio of 19.4%.
3. Reference:
Dividend Per Share
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Date of Record Interim Year-end Annual
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Fiscal year Ended March 31, 2008 25 yen 30 yen 55 yen
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Previous year Ended March 31, 2007 20 yen 25 yen 45 yen
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