NTT's board of directors approved on October 22 a plan to issue a special dividend of ¥5,000 to shareholders of record next March from the proceeds of the recent initial public offering of shares by NTT Mobile Communications Network, Inc. (NTT DoCoMo), an NTT subsidiary.
At the same time, the board approved a plan to buy back ¥120 billion worth of outstanding stock with funds realized through the offering.
The company also plans to pay an ordinary dividend of ¥2,500 to shareholders of record at the fiscal year end.
The payment of dividends and share repurchase will take place following approval at the 14th general_1.gif meeting of shareholders in June 1999, as well as the approval of the Minister of Posts and Telecommunications afterwards.
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