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Itochu ups dividend forecast for FY'18

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Itochu ups dividend forecast for FY'18

Itochu Corp. increased its dividend forecast for fiscal 2018 on the back of higher profit expectations.

The company said Dec. 20 it will declare an annual dividend of at least ¥70 per share in fiscal 2018, compared to the previous forecast of ¥64 per share.

It declared a dividend of ¥55 per share for fiscal 2017.

In the first half of fiscal 2018, Itochu's metals and minerals segment posted a net profit attributable to shareholders of ¥37.09 billion, surging from the year-ago net profit of ¥14.8 billion.

The company's overall net profit for the first half of fiscal 2018 rose 19.9% year over year to ¥242.47 billion.