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Japanese matchmaker IBJ seen sweetening dividend

TOKYO -- Japan's IBJ likely will lift its annual dividend to around 6.50 yen per share for the fiscal year ending in December, boosting shareholder returns in light of expanding membership rolls for the company's matchmaking website and anticipated growth in sales and profit.

The increase represents an effective hike of roughly 1 yen from the year ended in December 2015 after taking into account a 3-for-1 stock split in January.

The matchmaking service and wedding information provider is expected to earn 668 million yen ($6.46 million) in group net profit for fiscal 2016. This is essentially a year-on-year increase, though IBJ's switch to consolidated financial statements in July with the acquisition of a subsidiary precludes a direct comparison. A rise in participants at high-margin matchmaking parties held at IBJ venues is bolstering profits.

(Nikkei)

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