UPDATE 1-Japan's Fanuc doubles payout ratio after investor Loeb demands higher returns

April 27, 2015 8:01 AM

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TOKYO, April 27 (Reuters) - Japanese industrial robot maker Fanuc Corp said it was doubling its dividend payout ratio, signalling an apparent win for activist U.S. investor Daniel Loeb in calls on the debt-free firm to return more of its growing cash pile to shareholders.

Reporting net profit jumped 87 percent in the 12 months ended March on strong global demand for machine tools, Fanuc said on Monday it plans to pay around 60 percent of consolidated net income as dividend to shareholders. The previous target was 30 percent.

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