Dividend

Dividend Policy

ValueCommerce considers returning profits to its shareholders as one of its most important managerial issues, the company has adopted a basic policy to pay dividends in accordance with its performance, while maintaining certain retained earnings used for investments for its future growth. In fisical 2010, we paid our first ever cash dividend, which payout ratio was 10%. We decided to boost the payout ratio to at least 30% from fisical 2011 hereafter in keeping with a commitment to improve shareholder returns.

Dividend per share / Payout ratio

Interim Dividend
(June 30)
Year-end Dividend
(December 31)
Total Dividend Payout ratio
(Consolidated)
FY2010 ¥1.465 ¥1.465 10.0%
FY2011 ¥3.75 ¥3.75 32.6%
FY2012 ¥2.25 ¥3.25 ¥5.5 32.3%
FY2013 ¥3.0 ¥6.5 ¥9.5 32.7%
FY2014 ¥5.0 ¥6.0 ¥11.0 38.1%
FY2015 ¥4.0 ¥6.0 ¥10.0 32.2%
FY2016 ¥2.0
¥2.0 ¥4.0 38.5%
FY2017 ¥3.0 ¥6.0
(forecast)
¥9.0
(forecast)
33.6%
(forecast)
Interim Dividend
(June 30)
Year-end Dividend
(December 31)
Total Dividend Payout ratio
(Consolidated)
FY2010 ¥1.465 ¥1.465 10.0%
FY2011 ¥3.75 ¥3.75 32.6%
FY2012 ¥2.25 ¥3.25 ¥5.5 32.3%
FY2013 ¥3.0 ¥6.5 ¥9.5 32.7%
FY2014 ¥5.0 ¥6.0 ¥11.0 38.1%
FY2015 ¥4.0 ¥6.0 ¥10.0 32.2%
FY2016 ¥2.0
¥2.0 ¥4.0 38.5%
FY2017 ¥3.0 ¥6.0
(forecast)
¥9.0
(forecast)
33.6%
(forecast)

Note: ValueCommerce split one share of its common stock into 100 shares effective on July 1, 2013 and split one share of its common stock into 2 shares effective on October 1, 2013.
Dividend per share above is indicated after consideration of the influence of stock splits.

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