Nintendo met the wrath of shareholders Thursday as a proposed change that would have allowed its board to decide the timing and size of dividends without shareholder approval was rejected. According to Reuters, the vote marked the first time that a proposal of Nintendo’s was shot down. Nintendo believes that investors were worried that the change could lead to lower dividends.
“The proposed change was intended to give Nintendo’s board a bit more autonomy, so that dividends can be paid out quickly without waiting for approval at a general shareholders’ meeting,” a Nintendo spokesman said. “But apparently we could not win enough understanding from shareholders.”
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