Dividend Declaration
March 06 2009 - 2:03AM
UK Regulatory
TIDM35SV
RNS Number : 4343O
Pioneer Corporation
06 March 2009
For Immediate Release
March 6, 2009
Pioneer Announces Year-end Dividend for Fiscal 2009
TOKYO - Pioneer Corporation has announced that at a meeting of its Board of
Directors held today, the Company decided to pay no year-end dividend for fiscal
2009, the year ending March 31, 2009, to its shareholders.
Pioneer positions its dividend policy as one of the highest management
priorities. On the basis of maintaining stable dividends, the Company sets
dividend payments appropriately in light of its financial position, consolidated
business results, and other factors.
The decision to pay no year-end dividend for fiscal 2009 is attributable to the
Company's forecast of a consolidated net loss of JPY130 billion based on lower
operating revenue due to intensifying competition involving its core products
and the impact of the worsening global economic downturn, as well as business
restructuring expenses and other factors.
Going forward, the Company is determined to improve its business performance by
striving to ensure the success of ongoing business restructuring measures such
as business portfolio realignment including the withdrawal from the display
business.
+-------------------------+--+-----------------+--+-----------------+
| [Dividends per Share of Common Stock] |
+-------------------------------------------------------------------+
| | | Fiscal 2009 | | Fiscal 2008 |
+-------------------------+--+-----------------+--+-----------------+
| Interim dividend | | JPY0.0 | | JPY5.0 |
+-------------------------+--+-----------------+--+-----------------+
| Year-end dividend | | JPY0.0 | | JPY2.5 |
+-------------------------+--+-----------------+--+-----------------+
| Total annual dividend | | JPY0.0 | | JPY7.5 |
+-------------------------+--+-----------------+--+-----------------+
Cautionary Statement with Respect to Forward-Looking Statements
Statements made in this release with respect to our current plans, estimates,
strategies and beliefs, and other statements that are not historical facts are
forward-looking statements about our future performance. These statements are
based on management's assumptions and beliefs in light of the information
currently available to it. We caution that a number of important risks and
uncertainties could cause actual results to differ materially from those
discussed in the forward-looking statements, and therefore you should not place
undue reliance on them. It is not our obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. We disclaim any such obligation. Risks and uncertainties
that might affect us include, but are not limited to: (i) general economic
conditions in our markets, particularly levels of consumer spending; (ii)
exchange rates, particularly between the Japanese yen and the U.S. dollar, the
euro, and other currencies in which we make significant sales or in which our
assets and liabilities are denominated; (iii) our ability to continuously design
and develop highly rated products and services in extremely competitive markets,
which are characterized by continual product launches, rapid technological
development, intense price-based competition, subjective and changing consumer
preferences and other factors; (iv) our ability to successfully implement our
business strategies; (v) our ability to compete, as well as develop and
implement successful sales and distribution strategies, in light of
technological developments in and affecting our businesses; (vi) our continued
ability to devote sufficient resources to research and development, and capital
expenditure; (vii) our ability to continuously enhance our brand image; (viii)
the success of our joint ventures and alliances; (ix) the success of our
business restructuring plans; and (x) the outcome of contingencies.
Pioneer Corporation is a leading global manufacturer of consumer- and
business-use electronics products such as audio, video and car electronics. Its
shares are listed on the Tokyo Stock Exchange.
# # # # # #
For further information, please contact:
Hideki Okayasu
Managing Director, and General Manager of Finance and Accounting Division
Pioneer Corporation, Tokyo
Phone: +81-3-3494-1111 / Fax: +81-3-3495-4431
E-mail: pioneer_shr@post.pioneer.co.jp
IR Website: http://pioneer.jp/ir-e/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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