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Hitachi Zosen Corp Announces Combination of Shares; Announces Partial Change to Article of Incorporation; Amends Consolidated Full-year Forecast and Raises Year-end Dividend Forecast for FY 2014


Friday, 17 May 2013 02:00am EDT 

Hitachi Zosen Corp announced that it has decided to combine every five shares of its common stock into one share, effective October 1, 2013. After the stock combination, the total share outstanding will become 159,214,656. The Company has received approval from the shareholders meeting to make partial change to its article of incorporation. Based on change to article six, the Company will decrease total number of authorized shares from 2,000,000,000 shares to 400,000,000 shares. The Company has reaffirmed the consolidated full-year forecast for revenue of JPY 320,000 million, operating profit of JPY 13,000 million, ordinary profit of JPY 10,000 million, net profit of JPY 7,500 million and raised the forecast for earning per share from JPY 9.57 to JPY 47.85 for the fiscal year ending March 31, 2014. The Company has raised the year-end dividend forecast from JPY 2.00 per share to JPY 10.00 per share for the fiscal year ending March 31, 2014. 

Company Quote

569.0
-6.0 -1.04%
2:00am EDT