SYT - SYLA Technologies Announces Movement of ADS Record Date for Interim Dividend | Benzinga
TOKYO, Aug. 31, 2023 (GLOBE NEWSWIRE) -- SYLA Technologies Co., Ltd. (NASDAQ:SYT) ("SYLA" or "the Company"), operator of the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, announced that the record date for ADS holders for payment of the interim dividend has been changed to September 11, 2023. The previously announced record date for ADS holders of August 31, 2023 has been changed for Nasdaq regulatory purposes. Trading of SYLA's ADSs has been temporarily halted in connection with this matter.
Based on an August 30 exchange rate of $1.00 = ¥145.79 and the ADS ratio of 100 ADSs to 1 common share, the interim dividend amount of ¥70 per common share would be equivalent to approximately $0.0048 per ADS. The Company currently anticipates that payment of the dividends is to be made to ADS holders in December 2023.
"The shift in record date for the ADR to September 11th, 2023 does not affect our intent to issue the interim dividend, nor our operations," said Chairman, Founder, and CEO Hiroyuki Sugimoto. "Our commitment to long-term shareholder value remains unwavering, and we look to continue enacting processes that are in the best interest of our stakeholders."
Overview of the Interim Dividend for the Fiscal Year Ending December 2023
| FY 2023 Interim Dividend |
| FY 2023 Recent dividend forecast announced on May 17, 2023 |
| FY 2022 Annual Dividend |