Espec raises FY25 earnings, boosts year-end dividend

Espec Corp (TSE: 6859) announced revisions to its consolidated financial forecast and year-end dividend on March 7, 2024. The company now anticipates ¥66.5 billion in sales, ¥7.3 billion in operating income, and ¥7.6 billion in ordinary income. Net income attributable to shareholders is projected at ¥5.8 billion, or ¥265.66 per share. This is an increase from prior forecasts of ¥65 billion, ¥7 billion, ¥7.2 billion and ¥5.2 billion, or ¥238.18 per share, respectively. The upward revisions are attributed to strong third-quarter performance and positive future outlook, combined with special income from the sale of strategically held shares. Reflecting this improved outlook, Espec is increasing its year-end dividend forecast to ¥60 per share, bringing the total annual dividend to ¥95 per share, up from the previous forecast of ¥80.