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Nintendo Told No

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The shareholders of Nintendo voted down a proposal that would have given Nintendo's board greater control over the disbursement of dividends - the first time a company suggestion has ever been shot down.

A spokesperson for the company said the change was meant to let Nintendo pay dividends quicker by not having to wait for a shareholders meeting and approval. It would have also meant that the board could set the size of dividends, which the spokesperson said could have caused concern that Nintendo would have lower yields.

Nintendo has a relatively high dividend yield of 2% - which is nearly double the average for stocks listed in the first section of the Tokyo Stock Exchange, noted the Washington Post.

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