-- Bank of The Ryukyus (TYO:8399) now expects consolidated profit attributable to owners to reach 8.96 billion yen for the fiscal year ending March 31, up from its previous forecast of 8 billion yen.
Earnings per share estimates were increased to 218.47 yen from 195.02 yen, while ordinary profit projections were upgraded to 12.8 billion yen from 11.5 billion yen, according to a Tokyo bourse filing on Thursday.
The bank said the upward revision is driven by higher-than-expected interest and dividend income on securities on a non-consolidated basis.
It also cited lower-than-anticipated operating expenses and credit-related costs as key factors behind the improved outlook.
Consequently, the bank raised its final dividend forecast from 27 yen to 61 yen per share, bringing the total annual dividend to 88 yen per share, higher than the 54 yen paid the previous year.