Aoyama Zaisan Networks Company,Limited

<h3>3. Dividend Policy</h3>
Our top priority is to implement progressive dividends and continue increasing dividends year over year. Regarding profit allocation, we will prioritize in the following order: (1) investments and M&A for business expansion and growth, (2) shareholder returns, and (3) debt reduction. We will make comprehensive decisions based on our financial condition, cash flow, and earnings outlook. We assume a cost of equity capital of approximately 8% and will return dividends equal to or greater than this amount. Our target dividend payout ratio is 50%.
For the current fiscal year, we paid an interim dividend of 18 yen per share based on the above policy. We have decided to pay a year-end dividend of 28 yen per share. This brings the total annual dividend per share for the fiscal year ending December 2024 to 46 yen, with a consolidated dividend payout ratio of 46.0%.
Retained earnings will be used as a source of funds for investments and M&A aimed at business expansion and growth, in order to respond to anticipated changes in the operating environment.
Our articles of incorporation provide that the board of directors may declare interim dividends with June 30 as the record date each year.
Our articles of incorporation also provide that the board of directors may determine dividend distributions in accordance with Article 459, Paragraph 1 of the Companies Act.
Dividend distributions for the current fiscal year are as follows:
 
(Interim Dividend)
・Date of Resolution: August 8, 2024 Board of Directors Resolution
・Total Dividend Amount: 439 million yen
・Dividend per Share: 18 yen
 
(Year-End Dividend)
・Date of Resolution: February 13, 2025 Board of Directors Resolution
・Total Dividend Amount: 670 million yen
・Dividend per Share: 28 yen

The company implements a progressive dividend policy, prioritizing continuous dividend increases. We target a dividend payout ratio of approximately 50%. We return dividends equivalent to at least 8% of shareholder equity cost and pay dividends twice annually. Retained earnings are allocated as funding for business expansion, growth investments, and M&A activities.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2026/02/06)	23	35	58	52.5%
FY2025	Actual(2026/02/06)	20	33	53	46.2%
	Revision(2025/12/11)	20	33	51	-
	Forecast(2025/02/13)	20	31	51	49.8%
FY2024	Actual(2025/02/13)	18	28	46	46.0%
	Forecast(2024/02/09)	18	28	46	50.0%
FY2023	Actual(2024/02/09)	15	26	41	48.3%
	Revision(2023/08/09)	15	26	41	-
	Forecast(2023/02/10)	15	23	38	46.6%
FY2022	Actual(2023/02/10)	13	22	35	50.1%
	Revision(2022/11/11)	13	22	35	-
	Forecast(2022/02/08)	13	18	31	44.3%
FY2021	Actual(2022/02/08)	22	17	-	45.7%
	Revision(2021/11/09)	22	17	-	-
	Forecast(2021/08/03)	22	17	39	-
FY2020	Actual(2021/08/03)	20	33	53	-

Aoyama Zaisan Networks Company,Limited (8929) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)