Dividend Declaration
September 08 2009 - 4:12AM
UK Regulatory
TIDM35SV
RNS Number : 6849Y
Pioneer Corporation
08 September 2009
For Immediate Release
September 8, 2009
Pioneer Announces Interim Dividend for Fiscal 2010
TOKYO - Pioneer Corporation has announced that at a meeting of its Board of
Directors held today, the Company decided to pay no interim dividend for fiscal
2010, the year ending March 31, 2010, to its shareholders.
Pioneer positions its dividend policy as one of its highest management
priorities. On the basis of maintaining stable dividends, the Company's policy
is to set appropriate dividend payments in light of its financial position,
consolidated business results, and other factors.
The decision to pay no interim dividend for fiscal 2010 is attributable to the
Company's forecast of a consolidated net loss of JPY83 billion mainly due to
lower consolidated net sales and recording of business restructuring expenses
despite anticipated reduction of fixed costs as restructuring benefits.
Going forward, the Company is determined to improve its business performance by
striving to ensure the success of ongoing restructuring.
+-------------------------+--+-----------------+--+-----------------+
| [Dividends per Share of Common Stock] |
+-------------------------------------------------------------------+
| | | Fiscal 2010 | | Fiscal 2009 |
+-------------------------+--+-----------------+--+-----------------+
| Interim dividend | | JPY0.0 | | JPY0.0 |
+-------------------------+--+-----------------+--+-----------------+
| Year-end dividend | | * | | JPY0.0 |
+-------------------------+--+-----------------+--+-----------------+
| Total annual dividend | | * | | JPY0.0 |
+-------------------------+--+-----------------+--+-----------------+
* The amount of the year-end dividend for fiscal 2010 has yet to be determined.
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 car electronics, audio and video
products. Its shares are traded on the Tokyo Stock Exchange.
# # # # # #
For further information, please contact:
Hideki Okayasu
Senior Managing Director and Representative Director
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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