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Japan's Gunma Bank raises dividend, plans share buyback

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Japan's Gunma Bank raises dividend, plans share buyback

Japan-based Gunma Bank Ltd. proposed a year-end dividend of ¥7 for the fiscal year ended March 31, up from a dividend of ¥6 for the prior year.

Including an interim dividend of ¥6, the total dividend payout for the year is ¥13, up from ¥12.

Further, the Japanese bank said May 9 that it plans to buy back up to 1.4 million shares, or 0.32% of its issued shares, for up to ¥900 million. The buyback will take place between May 11 and May 31.

Gunma Bank also plans to retire 7 million treasury shares, or 1.51% of its issued shares before the share retirement, on July 3.

As of May 9, US$1 was equivalent to ¥109.74.