WOWOW INC.

<h3 class="smt_head2" style="padding-left:9pt;">3. Dividend Policy</h3>
The Company implements appropriate dividend distributions based on the following policy.
Regarding dividend distributions, the Company comprehensively considers business performance for each fiscal year, strengthening of financial position, and medium to long-term business strategy. The Company aims to maintain stable and continuous dividends while building up internal reserves.
Internal reserves will be used for acquiring competitive and high-quality content, developing new services that generate new revenue streams, and promoting digital transformation.
The Company also considers share buybacks and cancellations as an effective means of returning profits to shareholders. The Company will appropriately consider such actions while taking into account stock price trends and financial conditions.
At the 22nd Annual General Meeting of Shareholders held on June 27, 2006, the Company amended its articles of incorporation to allow dividend distributions by board of directors resolution. Accordingly, matters concerning dividend distributions as specified in Article 459, Paragraph 1 of the Companies Act are determined by board of directors resolution rather than shareholder approval, except where otherwise provided by law. The Company's dividend record dates are set as September 30 and March 31 each year, and the Company may also declare dividends on other dates as determined.
Based on these policies, for the current fiscal year, the Board of Directors resolved on May 16, 2025 to pay a year-end dividend of 847 million yen in total, or 30 yen per share.

Our basic policy is to implement continuous and stable dividends while strengthening internal reserves, taking into comprehensive consideration each fiscal year's performance, improvement of our financial position, and medium to long-term business strategies. We will use internal reserves for acquiring quality content, developing new services, and advancing digital transformation (DX). We will also appropriately consider share buybacks while taking into account stock price trends and financial conditions.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2025/05/15)	0	30	30	106.0%
FY2025	Actual(2025/05/15)	0	30	30	132.8%
	Forecast(2024/05/15)	0	30	30	84.7%
FY2024	Actual(2024/05/15)	0	30	30	77.3%
	Forecast(2023/05/15)	0	30	30	52.8%
FY2023	Actual(2023/05/15)	0	50	50	59.7%
	Forecast(2022/05/13)	0	50	50	89.6%
FY2022	Actual(2022/05/13)	0	60	60	39.0%
	Forecast(2021/05/14)	0	50	50	67.6%
FY2021	Actual(2021/05/14)	0	80	80	73.5%
	Forecast(2020/10/30)	0	80	80	-
FY2020	Actual(2020/10/30)	0	80	80	-

WOWOW INC. (4839) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)