OSG Corporation Announces Year-End Dividend for the Year Ended Nov. 30, 2016; Provides Dividend Guidance for the Second Quarter End of Fiscal Year 2017 and Full Year of Fiscal 2017; Reports Consolidated Earnings Results for the Year Ended November 30, 2016; Provides Consolidated Earnings Guidance for the Semi-Annual and Annual Period Ending November 30, 2017
January 13, 2017 at 03:00 pm
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OSG Corporation announced year-end dividend of JPY 28 per share for the year ended Nov. 30, 2016 compared to JPY 20 per share paid a year ago.
For the second quarter end of fiscal year 2017, the company expects a dividend of JPY 21 per share compared to JPY 22 paid a year ago.
For the fiscal year 2017, the company expects a year-end dividend of JPY 23 per share against JPY 28.00 for the same period a year ago.
The company reported consolidated earnings results for the year ended November 30, 2016. For the year, the company reported net sales of JPY 105,561 million compared to JPY 111,917 million a year ago. Operating income was JPY 18,246 million compared to JPY 21,597 million a year ago. Ordinary income was JPY 17,813 million compared to JPY 21,510 million a year ago. Net income attributable to the company was JPY 10,134 million or JPY 100.62 per diluted share compared to JPY 12,518 million or JPY 120.25 per diluted share a year ago. Income before income taxes was JPY 16,769 million against JPY 21,363 million a year ago. Cash flows from operating activities were JPY 16,333 million compared to JPY 19,588 million a year ago. Acquisitions of property, plant and equipment was JPY 13,394 million compared to JPY 12,487 million a year ago. Acquisitions of intangible assets was JPY 204 million compared to JPY 323 million a year ago. Return on equity was 10.4% against 12.9% a year ago.
The company provided consolidated earnings guidance for the semi-annual and annual period ending November 30, 2017. For the semi-annual period, the company expects net sales of JPY 57,500 million, operating income of JPY 9,300 million, ordinary income of JPY 9,000 million, net income attributable to the company was JPY 5,500 million and net income per share of JPY 61.09.
For the annual period, the company expects net sales of JPY 116,500 million, operating income of JPY 19,500 million, ordinary income of JPY 19,000 million, net income attributable to the company was JPY 11,500 million and net income per share of JPY 127.74.
OSG CORPORATION is primarily engaged in manufacturing and selling precision machine tools. The Companyâs products include cutting tools, rolling tools, measuring tools, machine parts and others. The Company operates in four segments, including Japan, Americas, Europe and Africa, as well as Asia. Each segment is primarily engaged in manufacturing and selling precision machine tools.
OSG Corporation Announces Year-End Dividend for the Year Ended Nov. 30, 2016; Provides Dividend Guidance for the Second Quarter End of Fiscal Year 2017 and Full Year of Fiscal 2017; Reports Consolidated Earnings Results for the Year Ended November 30, 2016; Provides Consolidated Earnings Guidance for the Semi-Annual and Annual Period Ending November 30, 2017