GLORY LTD.

<h3>3. Dividend Policy</h3>
The Company regards returning profits to shareholders as an important management priority. Our basic policy is to "continue providing stable dividends while investing in future business growth and maintaining and strengthening our financial position." For the "2026 Medium-Term Management Plan" period (fiscal year ending March 2025 through fiscal year ending March 2027), our targets are "progressive dividends based on the dividend amount for the fiscal year ending March 2024 (106 yen per share annually) and a dividend on equity (DOE) of 3% or higher."
 
The Company's Articles of Incorporation provide that matters concerning dividends of surplus and other items specified in Article 459, Paragraph 1 of the Companies Act may be determined by resolution of the shareholders' meeting or the board of directors, except where otherwise provided by law. The Company distributes dividends of surplus twice annually—at the interim and year-end periods.
 
Based on the above basic policy and targets, we will submit a proposal to the 79th Annual Shareholders' Meeting to be held on June 20, 2025, to set the year-end dividend at 54 yen per share. If this proposal is approved as presented, combined with the interim dividend of 54 yen per share already implemented by board resolution, the annual dividend will be 108 yen per share, resulting in a dividend on equity (DOE) of 3.5%.
 
For the fiscal years ending March 2026 and March 2027, in addition to the targets of "progressive dividends based on the dividend amount for the fiscal year ending March 2024 (106 yen per share annually) and a dividend on equity (DOE) of 3% or higher," we have added a new target of "total payout ratio of 100% or higher." The dividend for the next fiscal year is planned to be 112 yen per share (interim dividend of 56 yen, year-end dividend of 56 yen) based on our basic policy and revised targets.
As noted in the consolidated financial statements under "Notes (Significant Subsequent Events)," the board of directors resolved on May 13, 2025, to acquire treasury shares (maximum acquisition price: 15 billion yen / maximum number of shares to be acquired: 6 million shares). Following the completion of this acquisition, all treasury shares acquired will be cancelled.
 
 
The dividends of surplus for the current fiscal year are as follows:
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Date of Resolution
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Total Dividend Amount
(Million Yen)
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Dividend per Share
(Yen)
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November 7, 2024
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3,027
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54
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Board of Directors Resolution
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June 20, 2025
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3,121
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54
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Annual Shareholders' Meeting Resolution (Planned)
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Our basic policy is to continue stable dividends while investing in future business growth and maintaining and strengthening our financial position. During the medium-term management plan period, we target progressive dividends and a Dividend on Equity (DOE) of 3% or more. From the fiscal year ending March 2026 onwards, we will add a target of a total payout ratio of 100% or more. We pay dividends twice per year.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2027	Forecast(2026/05/15)	77	77	154	41.6%
FY2026	Actual(2026/05/15)	56	56	112	39.3%
	Forecast(2025/05/13)	56	56	112	62.5%
FY2025	Actual(2025/05/13)	54	54	108	37.5%
	Forecast(2024/05/10)	54	54	108	60.1%
FY2024	Actual(2024/05/10)	40	66	106	19.9%
	Revision(2024/02/06)	40	60	100	-
	Revision(2023/11/07)	40	40	80	-
	Forecast(2023/05/11)	36	36	72	20.6%
FY2023	Actual(2023/05/11)	34	34	68	-
	Forecast(2022/05/12)	34	34	68	205.6%
FY2022	Actual(2022/05/12)	34	34	68	63.2%
	Forecast(2021/05/13)	34	34	68	91.3%
FY2021	Actual(2021/05/13)	30	36	66	66.0%
	Revision(2021/02/04)	30	36	66	-
	Forecast(2020/11/06)	30	30	60	-
FY2020	Actual(2020/11/06)	32	34	66	-

GLORY LTD. (6457) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)