Tokyo, Japan – February 21, 2011 - Trend Micro (TSE: 4704), a leader in network antivirus and Internet content security software and services, today announced that with the resolution pursuant to Article 370 of the Corporation Law as of February 21, 2011, its Board of Directors approved share buyback under Article 156 of the Corporation Law of Japan, as applied pursuant to Article 165(3) of the Corporation Law as described below:
We intend to continue to return profits to shareholders based on our net profits on a consolidated basis while striving to enhance financial strength and secure inner reserves in order to deal with the significantly changing business environment and maintain a competitive edge against competitors.
We have planned to pay a year-end dividend on the basis of a dividend ratio of 60% excluding the effect of stock option compensation expenses since last fiscal year. Despite of maintaining our dividend policy, net income amounts in FY 2010 declined from FY2009, so dividends per share are reduced.
1. Reason to Buy Shareback
In order to respond to the changing business environment, we are implementing a flexible capital budgeting policy.
2. Details of Program
|(1) Class of Capital Stock to be Purchased:
||Shares of Common Stock
|(2) Number of Shares to be Purchased:
||Up to 2,000,000 shares (1.50% of the total outstanding shares)
|(3) Total Purchase Price:
||Up to 5,500 million yen
||From February 22, 2011 to March 31, 2011 (based on trade date)
|(5) Method of repurchase:
||Open market purchases at the Tokyo Stock Exchange
Note: As of January 31, 2011
Total number of outstanding shares (excluding treasury shares): 133,544,469 shares
Total number of treasury shares: 6,748,535 shares
About Trend Micro:
Trend Micro Incorporated (TSE: 4704), a global cloud security leader, creates a world safe for exchanging digital information with its Internet content security and threat management solutions for businesses and consumers. A pioneer in server security with over 20 years' experience, we deliver top-ranked client, server and cloud-based security that fits our customers' and partners' needs, stops new threats faster, and protects data in physical, virtualized and cloud environments. Powered by the Trend Micro™ Smart Protection Network™ cloud security infrastructure, our industry-leading cloud-computing security technology, products and services stop threats where they emerge, on the Internet, and are supported by 1,000+ threat intelligence experts around the globe.
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