Fuji Television Network Inc. on Tuesday decided on a sharp dividend hike for the current fiscal year in a thinly veiled attempt to defend itself against Livedoor Co.'s hostile takeover bid for Nippon Broadcasting System Inc.
Fuji TV said it will boost its fiscal 2004 dividend by 3,000 yen per share from the previous year to 5,000 yen, abandoning its earlier plan to pay 1,200 yen for the year to March 31. The decision resulted from a review of payout ratios, the TV broadcaster said.
NBS is Fuji TV's largest shareholder.
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