Notice regarding the Distribution of Retained Earnings (Interim Dividend, Increase) and Revision of Dividend Forecast for the fiscal year ending March 31, 2021
TOKYO, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Internet Initiative Japan Inc. (“IIJ”, TSE1: 3774) announces that IIJ’s Board of Directors today resolved upon the interim dividend to be paid from retained earnings to shareholders on the record date of September 30, 2020 and IIJ revised its year-end dividend forecast for the fiscal year ending March 31, 2021, as indicated below.
1. Details of Interim Dividend
| Resolved Interim Dividend for the fiscal year ending March 31, 2021 | Latest Forecast (disclosed on May 14, 2020) | Interim Dividend for the previous fiscal year ended March 31, 2020 | |
| Record date | September 30, 2020 | September 30, 2020 | September 30, 2019 |
| Dividend per common share | JPY20.50 | JPY17.00 | JPY13.50 |
| Amount of dividend | JPY925 million | - | JPY609 million |
| Date of payment | December 4, 2020 | - | December 6, 2019 |
| Resource of dividend | Retained earnings | - | Retained earnings |
2. Revised Forecast of Year-end Dividend
| Revised Forecast of Year-end Dividend for the fiscal year ending March 31, 2021 | Latest Forecast (disclosed on May 14, 2020) | Year-end Dividend for the previous fiscal year ended March 31, 2020 | |
| Record date | March 31, 2021 | March 31, 2021 | March 31, 2020 |
| Dividend per common share | JPY10.25 (*) | JPY17.00 | JPY13.50 |
(*) IIJ plans a stock split at a ratio of two-for-one, effective from January 1, 2021. The above written revised forecast of year-end dividend per share is the amount after the stock split. Regarding the pre-split amount, revised forecast of year-end dividend is JPY20.50 per share.
3. Reason
IIJ’s basic policy for the return to shareholders is to maintain stable and continuous dividends to shareholders while giving full consideration to securing its funds to strengthen its financial position and to prepare for its operation and business development. Considering this basic policy and financial results for the six months ended September 30, 2020, IIJ decided to pay JPY20.50 per common share as interim dividend, which increased by JPY7.00 compared to interim dividend for the previous fiscal year and by JPY3.50 compared to the latest forecast.
Regarding year-end dividend forecast, considering earnings forecast announced today in the press release titled “Notice Regarding the Differences between Financial Results for the Six Months ended September 30, 2020 and September 30, 2019, and Upward Revision of the Full-Year Financial Targets for the Fiscal Year ending March 31, 2021,” IIJ revised year-end dividend target to JPY20.50 per common share (the amount before the stock split), which increased by JPY7.00 compared to year-end dividend for the previous fiscal year and increased by JPY3.50 compared to the latest forecast. The revised forecast of year-end and annual dividend after the stock split are JPY10.25 and JPY30.75, respectively.
< About Internet Initiative Japan Inc. >
Founded in 1992, IIJ is one of Japan's leading Internet-access and comprehensive network solutions providers. IIJ and its group companies provide total network solutions that mainly cater to high-end corporate customers. IIJ's services include high-quality Internet connectivity services, mobile services, security services, cloud computing services, and systems integration. Moreover, IIJ operates one of the largest Internet backbone networks in Japan that is connected to the United States, the United Kingdom and Asia. IIJ listed on the First Section of the Tokyo Stock Exchange in 2006.
< IIJ Investor Relations >
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< Disclaimer >
Statements made in this press release regarding IIJ’s or managements’ intentions, beliefs, expectations, or predictions for the future are forward-looking statements that are based on IIJ’s and managements’ current expectations, assumptions, estimates and projections about its business and the industry. These forward-looking statements, such as statements regarding revenues, operating and net profitability are subject to various risks, uncertainties and other factors that could cause IIJ’s actual results to differ materially from those contained in any forward-looking statement.
