Dividends

Dividend Policy

In addition to paying stable dividends to shareholders on an ongoing basis, Sojitz is also committed to enhancing shareholder value and improving its competitiveness by accumulating and effectively utilizing retained earnings as a basic policy and a top management priority.

Under the Medium-term Management Plan 2023, the three-year plan that began in April 2021, the basic dividend policy is to maintain a consolidated payout ratio of around 30%. Moreover, lower limit for dividend is set as below:

・ Market price-based dividend on equity ratio of 4% until PBR becomes more than 1.0 time
・ Book value-based dividend on equity ratio of 4% after PBR becomes more than 1.0 time

Dividends (as of April 30, 2021)

Common Stock

	Cash Dividends per Share
	Interim	Year-end	Annual
For the year ending March 31, 2022	¥7（forecast）	¥7（forecast）^※	¥14（forecast）
For the year ended March 31, 2021	¥5	¥5（forecast）	¥10（forecast）
For the year ended March 31, 2020	¥8.5	¥8.5	¥17
For the year ended March 31, 2019	¥7.5	¥9.5	¥17
For the year ended March 31, 2018	¥5	¥6	¥11
For the year ended March 31, 2017	¥4	¥4	¥8
For the year ended March 31, 2016	¥4	¥4	¥8
For the year ended March 31, 2015	¥2.5	¥3.5	¥6
For the year ended March 31, 2014	¥2	¥2	¥4
For the year ended March 31, 2013	¥1.5	¥1.5	¥3
For the year ended March 31, 2012	¥1.5	¥1.5	¥3
For the year ended March 31, 2011	¥1.5	¥1.5	¥3
For the year ended March 31, 2010	¥2.5	¥0	¥2.5
For the year ended March 31, 2009	¥4.5	¥1	¥5.5
For the year ended March 31, 2008	¥3.5	¥4.5	¥8
For the year ended March 31, 2007	─	¥6	¥6

※ Sojitz plans to propose share consolidation (effective on October 1, 2021) in the agenda for the 18th Ordinary General Meeting of Shareholders to be held on June 18, 2021. Year-end dividend forecast would be \35 based on the total number of issued shares after the consolidation.

Hospitality Programs for Shareholders

We do not have hospitality programs for shareholdes.
Our fundamental policy is to provide equal distribution to shareholders through the continuous and stable dividends made possible by increases in corporate value.