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Yahoo Japan Corp. said Thursday it will begin paying dividends for fiscal 2004.

The Internet portal operator has never paid dividends since its shares were listed in 1997. It has retained the profits to invest them and boost its financial strength to expand its corporate value.

It said the dividend-payout ratio is expected to stand at about 10 percent of its group net profit for fiscal 2004.

As it will start dividend payouts, the company will abandon its hospitality programs for shareholders launched in the first half of fiscal 2002. The program involves giving company products to shareholders as gifts.

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