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Seven Bank raises fiscal-year dividend, hikes net income guidance

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Seven Bank raises fiscal-year dividend, hikes net income guidance

Japanese lender Seven Bank Ltd. proposed a year-end dividend of ¥5.25 for the fiscal year ended March 31, up from ¥4.75 for the prior fiscal year.

Together with an interim dividend of ¥4.75, the total dividend amounted to ¥10, up from ¥9 for the year ended March 31, 2017.

Meanwhile, Seven Bank expects to see 1.4% and 5.9% year-over-year increases in net income for the half ending Sept. 30, 2018, and year ending March 31, 2019, respectively. Net income for the half and full year are forecast to amount to ¥13.80 billion and ¥26.80 billion, respectively.

The bank reported net income attributable to owners of the parent of ¥25.30 billion, or ¥21.20 per share, for the year ended March 31.

As of May 11, US$1 was equivalent to ¥109.40.