NTT FY Profit Climbs; Plans Share Repurchase, Ups Dividend

(RTTNews) - Japanese telecom giant Nippon Telegraph and Telephone Corp. (NTT) reported Friday that its fiscal 2015 net income attributable to the company climbed 42.4% to 737.7 billion Japanese yen from 518.1 billion yen a year ago.

Earnings per share improved 47.9% to 350.34 yen from 236.85 yen last year.

Operating income recovered to 1.30 trillion yen levels for the first time in eight years, reaching 1.348 trillion yen, up 24.3% from last year.

Operating revenues increased for the sixth consecutive year, and reached 11.54 trillion yen, a growth of 4 percent from 11.10 trillion yen, spurred by the continued growth of its overseas businesses.

Further, the company said it plans to buy back up to 68 million shares of common stock for 350.0 billion yen. The period for repurchases would be between May 16, 2016 and March 31, 2017.

The company raised dividends for the Fiscal Year Ending March 31, 2017. Interim dividend would be 60 yen and total dividend would be 120 yen. This is compared to last year's interim dividend of 50 yen and total dividend of 110 yen.

NTT further said it is considering delisting from the New York Stock Exchange and deregistering from SEC when IFRS is expected to be adopted, around April 2018.