informa
/
1 MIN READ
News

Shareholders Defy Nintendo Board

According to Japanese reports, shareholders have voted against a Nintendo board recommendation for the first time in the company’s history - although over plans to alter ...
According to Japanese reports, shareholders have voted against a Nintendo board recommendation for the first time in the company’s history - although over plans to alter how dividends are paid, rather than for any market-related reasons. The board of the Kyoto-headquartered game giant had suggested a proposal that would have allowed its members to decide the timing and size of dividends without the approval of shareholders, as well as changes to the company's corporate charter. Investors were apparently concerned that the changes could lead to lower dividends, despite the fact that Nintendo’s dividend yield is 2 percent, compared to a Tokyo Stock Exchange average of 1.15 percent. "The proposed change was intended to give Nintendo's board a bit more autonomy, so that dividends can be paid out quickly without waiting for approval at a general shareholders' meeting," a Nintendo spokesman is quoted as saying by the Reuters news agency. "But apparently we could not win enough understanding from shareholders." As a result, shares in Nintendo rose only 0.5 percent to ¥19,070 yesterday afternoon, below the Nikkei average of a 1.58 percent gain.

Latest Jobs

Treyarch

Playa Vista, Los Angeles, CA, USA
2.03.23
Senior Physics Gameplay Engineer - Treyarch

High Moon Studios

Carlsbad, CA, USA
2.03.23
VFX Artist - High Moon Studios

Anne Arundel Community College

Arnold, MD, USA
1.30.23
Instructor/Assistant Professor, Game Art

Treyarch Vancouver

Vancouver, BC, Canada
2.02.23
Producer - Treyarch Vancouver
More Jobs   

CONNECT WITH US

Explore the
Subscribe to
Follow us

Game Developer Job Board

Game Developer Newsletter

@gamedevdotcom

Explore the

Game Developer Job Board

Browse open positions across the game industry or recruit new talent for your studio

Browse
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more