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May 14, 2004 |
Repurchase of own
Shares and Distribution of Dividend |
Nippon Telegraph and Telephone Corporation ("NTT") announced that on
May 14, 2004 its board of directors decided in order to further promote the development
of management that serves the interests of shareholders as follows.
1.Repurchase of own shares under Article 210 of the Japanese Commercial Code
(calling for a shareholder resolution at the ordinary general meeting)
(1)Reason for share repurchase
To implement a capital policy that takes into account supply and demand conditions
of NTT's shares.
(2)Details of proposed share repurchase
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(a) |
Class of shares : Common stock |
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(b) |
Number of shares to be repurchased : 1,000,000 shares (maximum) |
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(c) |
Value of shares to be repurchased : 600 billion yen (maximum) |
(Note) The above details are subject to approval of a resolution regarding repurchase
of own shares by the shareholders at the 19th ordinary general meeting to be held
on June 29, 2004.
(3)Other
NTT intends to hold repurchased shares as treasury stock for the time being.
2.Dividend Increase from interim ending September 30, 2004 (Forecasts)
Dividend
per share |
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Interim |
Period End |
Yearly |
Forecasts
(for the period ending March 31, 2005) |
3,000 yen |
3,000 yen |
6,000 yen |
Previous financial year
(the period ended March 31, 2004) |
2,500 yen |
2,500 yen |
5,000 yen |
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For inquiries:
Ogata and Hanaki
Department IV. IR
Tel:+81-3-5205-5581
E-mail:investors@hco.ntt.co.jp |
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| The forecasts included herein are forward-looking
statements about the future performance of NTT which are based on the assumptions,
estimates, judgments, projections and beliefs of the management of NTT in light
of the information currently available to it. The projected numbers in this release
were derived using certain assumptions that are indispensable for making projections
in addition to facts that have been ascertained in the past and confirmed accurately.
Risks and uncertainties inherent in future projections, NTT's future business
operations, the state of the economy in Japan and abrades, possible fluctuations
in the securities markets and other changes in circumstances could cause NTT's
actual results to differ materially from the projected figures. |
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Copyright
(c) 2004 Nippon telegraph and telephone corporation |
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