GMO Internet announced today that it will not pay any dividend for the fourth quarter of 2022.

The company recorded the provision of allowance for doubtful accounts at a consolidated subsidiary, and it decided to pass on dividend payout for this quarter based on its policy at a meeting, in a result of the provision of allowance for doubtful accounts led to a quarterly net loss belong to the parent company during the fourth consolidated accounting period.

GMO commented:

“We sincerely apologize to all shareholders. As for the next quarter, we intend to pay dividends in accordance with the total shareholder returns policy. We appreciate your understanding”.

Under its policy, GMO Internet Group aims to return 50% of profits to shareholders. The company’s target dividend payout ratio is a minimum of 33% of profit attributable to owners of the parent, while it will aim to allocate the remainder of the 50% of profit attributable to owners of the parent to the acquisition of treasury stock after taking into consideration business results and financial condition and taking a flexible approach in accordance with the share price.

The company will pay annual dividend of JPY 47.60 per share in 2022.