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Japan-Update

Japan's Pola Orbis lifting dividend on hit anti-wrinkle cream

Target payout for 2017 amounts to 40% year-on-year increase

Sales of Wrinkle Shot Serum cream reached 11.2 billion yen in January-September, just over 30% above initial expectations.

TOKYO -- Japanese cosmetics company Pola Orbis Holdings upgraded its year-end dividend outlook Wednesday, projecting an annual payout effectively 40% above the previous year's, thanks to robust earnings driven by a popular wrinkle-fighting cream.

The company said it plans to pay 45 yen ($0.40) per share at the end of the current fiscal year through December, up from the previous forecast of 30 yen. On top of completed interim payouts, that would bring its total dividends per share to 70 yen for 2017. That amounts to a 40% year-on-year increase, taking into account a four-for-one stock split carried out April 1.

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