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Japan-Update

Japan's Obic set to hike dividend on record profit

Software provider improves sales and margin as companies turn to cloud

TOKYO -- Business software provider Obic is likely to hike its annual dividend by 5 yen per share for fiscal 2016, anticipating a record profit for the year ending in March.

Obic initially planned to maintain last fiscal year's payout ratio. With the increase, its dividend for fiscal 2016 would climb to 90 yen a share for a payout ratio of 37%, beating the company's 30% benchmark. This raise would mark five straight years of dividend raises in real terms, taking into account a 2013 stock split.

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