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RMB Capital Proposes Nippon BS Broadcasting Corp. Dividend Increase

·1-min read

CHICAGO, October 19, 2021--(BUSINESS WIRE)--RMB Capital ("RMB") filed a shareholder proposal regarding a dividend increase for the 23rd annual general shareholders' meeting at Nippon BS Broadcasting Corp. ("BS11", 9414 JP), which is scheduled to take place in November 2021.

Details of RMB's Proposal

1. Dividend increase to 50 yen per share (from expected dividend of 20 yen per share)

RMB proposes a year-end dividend of 50 yen per share (total 890 million yen) for the last fiscal year ending in August 2021. The proposed amount is an increase from the expected dividend amount of 20 yen per share. BS11 holds an excessive amount of cash and deposits (13 billion yen at the end of August 2021), and RMB asserts that returning more cash to shareholders—rather than accumulating excess capital unnecessarily—would serve shareholders’ common interests. Moreover, the return of excess capital would improve BS11's ROE, leading to a further enhancement of corporate value.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211018006037/en/

Contacts

Ilhwa Lee
RMB Capital
japan@rmbcap.com

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