Oki Electric Cable Co.,Ltd.

<h3>3. Dividend Policy</h3>
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<span style="font-size: 12px">The Company seeks to pursue an optimal balance between capital efficiency and financial soundness in order to enhance shareholder returns and increase shareholder value over the medium to long term.</span>
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<span style="font-size: 12px">Regarding profit distribution, the Company aims to return profits to shareholders with a dividend payout ratio target of 50%, providing stable dividends. As a basic policy, the Company distributes surplus dividends twice annually through interim and year-end dividends.</span>
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<span style="font-size: 12px">Based on this policy, the year-end dividend for the fiscal year ended March 2017 was set at 5 yen per share. Combined with the interim dividend of 2 yen already paid, the total dividend was 7 yen per share, resulting in a dividend payout ratio of 47.1%.</span>
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<span style="font-size: 12px">Retained earnings will be allocated to development investments for new products and businesses, and to strengthen the Company's financial position in the future, thereby working to enhance corporate value.</span>
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<p style="margin-left: 28px; text-align: left; text-indent: 12px">The Company's Articles of Incorporation provide that the Board of Directors may resolve to pay interim dividends with September 30 as the record date each year.</p>
<p style="margin-left: 28px; margin-bottom: 6px; text-align: left; text-indent: 12px">The surplus dividends for the current fiscal year are as follows:</p>
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<p style="margin-left: 6px; text-align: center">Resolution Date</p>
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<p style="text-align: center">Total Dividend Amount<br/>(Million Yen)</p>
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<p style="text-align: center">Dividend per Share<br/>(Yen)</p>
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<p style="text-align: center">October 26, 2016<br/>Board of Directors Resolution</p>
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<p style="margin-right: 12px; text-align: right">72</p>
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<p style="margin-right: 12px; text-align: right">2.00</p>
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<p style="text-align: center">June 22, 2017<br/>Annual General Meeting of Shareholders Resolution</p>
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<p style="margin-right: 12px; text-align: right">180</p>
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<p style="margin-right: 12px; text-align: right">5.00</p>
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<p>We aim to provide stable dividends by returning profits with a dividend payout ratio of approximately 50%. Our basic policy is to distribute surplus earnings twice per year through interim and year-end dividends. We will use retained earnings for investments in new product and business development, as well as strengthening our corporate foundation, in order to enhance corporate value.</p>

Oki Electric Cable Co.,Ltd. (E01343) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)