UPDATE 1-Tepco to skip its FY 2010 year-end dividend – Nikkei

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April 11 (Reuters) – Tokyo Electric Power Co (TEPCO)
will Not pay dividend for fiscal year 2010 and will
also forgo payouts for this year, hit by increasing losses from
the nuclear emergency at its Fukushima Daiichi nuclear power
plant, The Nikkei reported.

Asia’s largest utility company’s Fukushima Daiichi nuclear
complex saw leakage in radiation after Japan was hit by
earthquake and tsunami last month.

This is the first time that Tepco will scrap an annual
dividend, except immediately after it was established in 1951,
the newspaper said.

Tepco paid an interim dividend of 30 yen a share for
April-September and had forecast a year-end distribution of 30
yen, the business daily reported.

On March 23, two weeks after the earthquake, the company
said it was “undecided” regarding dividends, The Nikkei said.
(Reporting by Rachana Khanzode in Bangalore; Editing by Joyjeet
Das)

UPDATE 1-Tepco to skip its FY 2010 year-end dividend – Nikkei