Dividend Declaration
September 08 2010 - 1:40AM
UK Regulatory
TIDM35SV
RNS Number : 3307S
Pioneer Corporation
08 September 2010
For Immediate Release
September 8, 2010
Pioneer Announces No Interim Dividend for Fiscal 2011
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 2011, the
year ending March 31, 2011, to its shareholders. The decision is attributable to
the several factors including the Company's financial position, despite its
forecasts of consolidated operating income of JPY17 billion and consolidated net
income of JPY11 billion for fiscal 2011.
Pioneer management considers 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.
Going forward, the Company is determined to improve its business
performance by striving to ensure the success of its ongoing medium-term plan.
+----------------------+--+---------------+--+---------------+
| [Dividends per Share of Common Stock] |
+------------------------------------------------------------+
| | | Fiscal 2011 | | Fiscal 2010 |
+----------------------+--+---------------+--+---------------+
| Interim dividend | | JPY0.0 | | JPY0.0 |
+----------------------+--+---------------+--+---------------+
| Year-end dividend | | * | | JPY0.0 |
+----------------------+--+---------------+--+---------------+
| Total annual | | * | | JPY0.0 |
| dividend | | | | |
+----------------------+--+---------------+--+---------------+
* The amount of the year-end dividend for fiscal 2011 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, and levels
of demand in the major industrial sectors which we serve; (ii) exchange rates,
particularly between the Japanese yen and the euro, the U.S. dollar, 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 and win acceptance for our products in extremely competitive markets;
(iv) our ability to successfully implement our business strategies; (v) the
success of our joint ventures, alliances and other business relationships with
third parties; (vi) our ability to access funding; (vii) our continued ability
to devote sufficient resources to research and development, and capital
expenditure; (viii) our ability to ensure the quality of our products; and (ix)
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
Phone: +81-44-580-3211 / Fax: +81-44-580-4064
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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