Nissan Announces New Dividend Policy at
Shareholders' Meeting; Shareholders Approve FY03 Dividend
of 19 yen
JapanCorp: <http://www.japancorp.net/?page_num=1>
Nissan Announces New Dividend Policy at Shareholders' Meeting;
Shareholders Approve FY03 Dividend of 19 yen
Tokyo, Japan, June. 23, 2004 - (JCN Newswire) - Carlos Ghosn, President
& CEO of Nissan Motor Co., Ltd., today unveiled the company's new
dividend policy at Nissan's 105th Ordinary General Meeting of
Shareholders. By the end of Nissan's next three-year business plan
NISSAN Value-Up in March 2008, Nissan plans to pay an annual dividend of
no less than 40 yen per share, more than double the 19 yen per share
level that was approved for fiscal year 2003.
For fiscal year 2004, Nissan's interim dividend will increase from 8 yen
per share to 12 yen per share.
"Our performance continues to be recognized in the market through share
price appreciation," said Mr. Ghosn. "And we want to recognize the trust
and confidence of our shareholders through an attractive, predictable
dividend policy."
At the 105th annual shareholders' meeting, shareholders also approved
six resolutions. They are as follows:
1. A year-end dividend for fiscal year 2003 of 11 yen, which brings the
full-year dividend for the last fiscal year to 19 yen and represents an
increase of 5 yen compared with the previous year.
2. The authorization to acquire treasury stocks to implement capital
policies with greater flexibility.
3. The issuance of stock acquisition rights to employees of Nissan, as
well as directors and employees of its subsidiaries and affiliates. The
maximum number of common shares to be issued: 16 million.
4. The authorization for the purchase of up to 75 million common shares
for the acquisition cost of up to 100 billion yen from June 23 until the
next Ordinary General Meeting of Shareholders, for the purpose of
covering the potential dilution that may be caused by the exercise of
stock acquisition rights and warrants already issued and to be issued.
5. The retirement of Haruhiko Takenaka and Hideo Nakamura as auditors.
At the same time, shareholders also approved the appointment of five
auditors. The newly appointed auditors are: Shinji Ichishima, deputy
president of Mizuho Securities, Co. Ltd., Hiroyasu Kan, chief technology
advisor at Nissan and Haruo Murakami, chairman of Japan Telecom Co.,
Ltd. They join Hiroshi Moriyama and Keishi Imamura, who were both
re-elected.
6. The granting of retirement allowances to the retiring auditors
Takenaka and Nakamura in appreciation of their contributions to Nissan.
The amounts, timing and manners of the payment are entrusted to the
deliberations of the statutory auditors.
About Nissan Motor Co., Ltd.
Nissan Motor Co., Ltd. was established in
1933 to manufacture and market the Datsun, a small passenger car, and
related automotive components. The company is Japan's second largest
automobile manufacturer and the world's fifth, with annual global sales
of 2,415,433 vehicles. The company markets a wide range of passenger
cars, commercial vans, trucks and buses, parts and components in over
one hundred and seventy countries. The company has also expanded its
operations to include forklifts, textile machinery and other industrial
machinery and equipment. Nissan's affiliation with French automaker
Renault in 1999 has helped produce Nissan's best results in a decade.
The company has three hundred and forty two consolidated subsidiaries
worldwide. Consolidated sales in FY 2000 exceeded $49 billion dollars
(Euro 55 billion.)For further information, please visit the Nissan Motor
Co., Ltd. home page at: www.nissan.co.jp/EN/
<http://www.nissan.co.jp/EN/>
_____
June. 23, 2004, 22:04 (JST)
Source: Nissan Motor Co., Ltd.
Nissan Motor Co., Ltd.
www.nissan.co.jp/EN/ <http://www.nissan.co.jp/EN/>
From the Japan Corporate News Network
www.japancorp.net <http://www.japancorp.net>
Topic: Corporate Filings
Sectors: Financial General, Auto General
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