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Nintendo bumps up dividend payout

Move designed to boost share price, make company less attractive takeover target, say analysts.

Nintendo said today that it expects the net profit for the full fiscal year ending March 31, 2005, to spike 17 percent. Based on that projection, the game publisher says it will pay an all-time-high dividend of 270 yen ($2.48) to shareholders. That is nearly double the 140 yen ($1.28) per share the previous year. Reuters is reporting that the company has already paid an interim dividend of 70 yen. For the year, Nintendo expects to report a profit of 82 billion yen ($757 million). Previously, the company had forecast a 70 billion yen ($644 million) profit.

News source: GameSpot

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