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Kirin plans to raise dividends until 2021

Japanese beverage maker Kirin Holdings Co. Ltd. expects to raise its annual dividends every year at least until 2021, the Nikkei Asian Review reported Oct. 19, citing CFO Noriya Yokota.

Yokota told the newswire that its policy of stable dividend hikes will remain under the three-year medium-term plan of the company, which will start next year.

Kirin reportedly plans to distribute ¥48 per share for 2018, a ¥2 increase from last year, even as it expects a decline in consolidated net profit.

The sale of Kirin's underperforming Lion Dairy & Drinks unit in Australia is expected to boost the company's profitability overseas, the Nikkei added.

As of Oct. 18, US$1 was equivalent to ¥112.19.