Japan’s retail FX firms enjoyed record volumes last year, with MONEX predicting dividends to reflect stellar performance
MONEX Group has today announced its forecast for the payment of dividends for the fiscal year ending March 31, 2014.
Bearing in mind the remarkable performance achieved by MONEX along with its contemporaries and compatriots last year, it will be no surprise that shareholders of this particular Japanese FX giant can expect a good return despite the volumes industry-wide having tailed off toward the end of last year, and 2014’s lackluster first quarter.
The high volumes which prevailed during last year were at their absolute peak during the summer, a period where GMO Click Securities and DMM Securities, two of MONEX’s major domestic market competitors, sustained monthly volumes of over $1 trillion, with a surge in the upward direction having been apparent from approximately the comencement of the financial year in spring 2013.
MONEX aims to provide return to its shareholders based upon its business performance, while reserving necessary capital as a growing company. The Company policy for shareholder’s return is to pay out dividends based on the higher of 50% of the consolidated net income attributable to owners of the Company for the current fiscal year or DOE (dividend on equity) ratio being 1%, and the Company management will flexibly consider share buyback. “Equity” means the sum of “common stock”, “additional paid-in capital”, “treasury stock” and “retained earnings”.