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Mebuki Financial lowers final dividend; to buy back up to ¥2.5B of shares

Mebuki Financial Group Inc. lowered its final dividend for the fiscal year ended March 31 to ¥5.50 from ¥6.50 in the prior-year period.

Together with an interim dividend of ¥5.50, the Japanese company's total dividend slipped to ¥11 from ¥12 in the year-ago period, according to a May 11 release.

In addition, the company expects to report net income attributable to owners of the parent of ¥25 billion for the fiscal half ending Sept. 30 and ¥45 billion for the full year ending March 31, 2019. The company posted net income of ¥43.07 billion for the full year ended March 31.

It also expects to pay out a total dividend of ¥11 for the fiscal year ending March 2019.

Further, Mebuki Financial will repurchase up to 5 million shares for up to ¥2.5 billion between May 14 and June 22.

The shares represent 0.42% of the company's total number of shares issued, according to a separate May 11 release.

As of May 10, US$1 was equivalent to ¥109.58.