With regard to our Group’s basic policy of profit redistribution, the 2019 Five-Year Mid-Term Management Plan we established in 2019, set out our intention to maintain a consolidated dividend payout ratio of 50%, thus improving returns to all shareholders.

 

For FY03/2020, we paid an interim dividend of ¥12.5 per share. And the year-end dividend, after a comprehensive consideration of performance for the year ending March 2020, dividend forecast of ¥12.5 per share (published on May 14, 2019) increased by ¥3 to ¥15.5. As a result, we declared a total annual dividend of ¥28.0 (a consolidated dividend payout ratio of 51.8%).

 

For FY03/2021, we paid an interim dividend of ¥12.5 per share, year-end dividend is also projected to be ¥12.5 per share, meaning a prospective annual dividend of ¥25.0 per share (a consolidated payout ratio of 50.3%).

2016.3 2017.3 2018.3 2019.3 2020.3 2021.3
(Forecast)
Interim Dividends (Yen) 7.50 10.00 11.00 11.50 12.50 12.50
Year-end Dividends (Yen) 7.50 12.00 12.00 14.50 15.50 12.50
Total (Yen) 15.00 22.00 23.00 26.00 28.00 25.00

* On April 1, 2016 a common stock split of 2-for-1 came into effect. 
* For dividends before March 2016, the recorded values are adjusted to reflect stock split above.