If you are a shareholder of Japanese e commerce company Beenos then you are having a good day. Today they announced a dividend increase
From their official release:
Tokyo, Japan – 5 November 2020 – BEENOS Inc. (BEENOS) announced changes in its dividend
forecast for FY2020 as resolved in its board meeting today.
- Reason for change in dividend forecast
BEENOS holds its profit return policy in high regards to give back to shareholders by
expanding its business foundation and progressing its financial ground. It does so by carefully
reviewing its business performance and returns profits through dividends.
BEENOS is mainly divided between the E-Commerce Business and the Incubation Business.
The Incubation Business, in particular, is extremely volatile as it depends on the opportunity
to monetize its operational investment securities. As such, the dividend policy of BEENOS will
be based on the profits of the more consistent E-Commerce Business and the proceeds from the
Incubation Business will be used towards other profit reduction methods such as share
repurchases as we closely monitor our share prices.
As for this fiscal year’s dividends, given our financial results, financial soundness and the
internal reserve for the furtherment of our business, we plan to raise the dividends from our
previously projected forecast (announced 6 August 2020) by 2 yen/share to 20 yen/share.