NTT DoCoMo Inc., Japan’s largest mobile operator, faced tough questions at its annual shareholder meeting on Tuesday as unhappy investors complained about the company’s dividend level and stock performance. Some shareholders demanded the company apply more of its profits in the last business year ended March to double its dividend for the 2004/2005 year.
“If you’re going to carry over a profit into the current year, then why can’t you apply half of that toward a further increase in dividend?” asked one angry shareholder.
While DoCoMo in May said it would double its annual dividend for the current business year to 4,000 yen ($36.58) a share for a dividend yield of about 2.4 percent, its dividend yield last year was about 1.1 percent. Full story Here.