HEIWA

Dividends

Dividend policy

We consider it our top priority to provide returns to shareholder while also maximizing our corporate value. Specifically, our basic policy is to comprehensively take into account our business plans, financial condition, operating results, payout ratio, dividend on equity ratio, and so on so that dividends remain stable. As for retained earnings, we plan to allocate them to investment in strengthening our R&D capabilities, to capital expenditure, and to M&A involving golf courses.

Dividend trend(Units: dividend: yen, payout ratio: %)
InterimFinalFull yearPayout ratio
Year to March 2021404080912.1
Year to March 202040408049.7
Year to March 201940408048.3
Year to March 2018404080115.9
Year to March 201740408029.1
Year to March 201640408026.8
Year to March 201540408026.2
Year to March 201430407029.4
Year to March 201330407029.7
Year to March 201225356025.0

Payout ratio (%) = dividend per share / net income per share X 100

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