11/05/2019 | Press release | Distributed by Public on 11/04/2019 22:32
Last Updated: 2019.11.05
FAST RETAILING CO., LTD.
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
FAST RETAILING CO., LTD.
(Incorporated in Japan with limited liability)
(Stock code: 6288)
ANNOUNCEMENT OF FINAL DIVIDEND
FOR YEAR ENDED 31 AUGUST 2019
Reference is made to the announcement of Fast Retailing Co., Ltd. (the 'Company') dated 7 August 2019 in relation to the proposed record date of payment of final dividend.
The Company is pleased to announce that the Board of Directors today approved the payment of the final dividend for the year ended 31 August 2019 to its shareholders amounting to JPY 240 per common share (JPY 2.40 per Hong Kong Depositary Receipt).
The payment will be made from 8 November 2019 onwards. Holders of Hong Kong Depositary Receipts ('HDRs') will receive the payment through JP Morgan Chase Bank, N.A., the depositary for the HDRs, on 19 November 2019. A withholding income tax will be levied on the amount distributed as interest on capital, in accordance with Japan's tax code.
The record date for the holders of HDRs traded on The Stock Exchange of Hong Kong Limited was Saturday, 31 August 2019.
Based on the Japanese Yen / Hong Kong dollar exchange rate of 0.072 as of 5 November 2019, the estimated Hong Kong dollar amount of the proposed final dividend is approximately HK$ 0.1728 per HDR. The final amount of the dividend in Hong Kong dollars will be determined on 8 November 2019. Where applicable, fees, charges and / or taxes may be deducted by the HDR Depositary from the dividends payable to holders of HDRs, details of which will be announced in due course and are expected to include:
(1) a withholding income tax of 15.315%*; and
(2) an estimated dividend fee of HK$ 0.034,
resulting in an estimated net final dividend of HK$ 0.1123 per HDR.
* The current withholding income tax rate on dividends for Japanese listed equities is 15.315%.
By order of the Board
Fast Retailing Co., Ltd.
Shea Yee Man
Japan, 5 November 2019
As at the date of this announcement, our executive director is Tadashi Yanai, our non-executive directors are Takeshi Okazaki, Kazumi Yanai and Koji Yanai and our independent non-executive directors are Toru Hambayashi, Nobumichi Hattori, Masaaki Shintaku, Takashi Nawa and Naotake Ono.