ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Maeda Road hikes dividend sixfold to fend off hostile bid

Japanese builder willing to unload $480m in cash as last-ditch defense

Street repairs in Tokyo: Maeda Road is trying to block a hostile bid from its top shareholder.   © Reuters

TOKYO -- Japan's Maeda Road Construction aims to spend 53.5 billion yen ($484 million) to pay an extra dividend more than six times the previously planned amount -- a surprise move meant to block top shareholder Maeda Corp.'s hostile takeover bid.

The special dividend of 650 yen per share, announced Thursday, would come on top of the regular dividend of 100 yen to be paid out at the fiscal year-end in March.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more