Kenedix, Inc.

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<h3 class="smt_head2">3 [Dividend Policy]</h3>
<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">The Company views returning profits to shareholders as an important management priority and has adopted a basic policy of providing continuous dividends based on base earnings. In determining dividend amounts, the Company comprehensively considers business performance trends, the need to build internal reserves for future growth, and dividend payout ratios.
<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">During the current consolidated fiscal year, the Company Group worked to build a revenue structure capable of generating stable profits based on its medium-term management plan, resulting in net income attributable to parent company shareholders of 10,673 million yen.
For the current period, taking into comprehensive consideration the consolidated fiscal year's performance and the above policy, the Company set the interim dividend at 7.5 yen per share and the year-end dividend at 8.5 yen per share. The total annual dividend, combining the interim and year-end dividends, is 16 yen per share.
<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">The decision-making body for dividend distributions is the shareholders' meeting for year-end dividends and the board of directors for interim dividends. The Company's articles of incorporation provide that the board of directors may, by resolution, pay interim dividends as defined in Article 454, Paragraph 5 of the Companies Act to shareholders or registered pledgees of shares recorded in the final shareholder register as of June 30 each year.
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The dividend distributions with record dates in the current fiscal year are as follows.
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<td valign="middle" colspan="2" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;">Date of Resolution
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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-color:#a9a9a9;overflow:hidden;"><p class="smt_tblL" style="orphans:0;widows:0;text-align:left;padding-left:4.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;font-size:9pt;">August 9, 2019
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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-color:#a9a9a9;overflow:hidden;"><p class="smt_tblL" style="orphans:0;widows:0;text-align:left;padding-left:4.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;font-size:9pt;">March 25, 2020
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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-color:#a9a9a9;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;"><p class="smt_tblL" style="orphans:0;widows:0;text-align:left;padding-left:0pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;font-size:9pt;">Annual Shareholders' Meeting Resolution
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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;"><p class="smt_tblL" style="orphans:0;widows:0;text-align:right;padding-left:4.5pt;padding-right:4.5pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;font-size:9pt;">1,874
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<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;"><p class="smt_tblL" style="orphans:0;widows:0;text-align:right;padding-left:4.5pt;padding-right:4.5pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;font-size:9pt;">8.50
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<p class="smt_text6" style="orphans:0;widows:0;text-align:justify;padding-left:31.5pt;padding-right:0pt;margin-top:1.5pt;margin-bottom:0pt;text-indent:-22.5pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">(Note) The total dividend amount from the board of directors resolution of August 9, 2019 includes 9 million yen in dividends on 1,281,100 shares of the Company held by the executive stock grant trust and 3 million yen in dividends on 458,600 shares held by the employee stock grant trust, as of the record date of June 30, 2019.
<p class="smt_text5" style="orphans:0;widows:0;text-align:justify;padding-left:31.5pt;padding-right:0pt;margin-top:1.5pt;margin-bottom:0pt;text-indent:-22.5pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;font-size:9pt;">The total dividend amount from the annual shareholders' meeting resolution of March 25, 2020 includes 10 million yen in dividends on 1,281,100 shares of the Company held by the executive stock grant trust and 3 million yen in dividends on 382,900 shares held by the employee stock grant trust, as of the record date of December 31, 2019.
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Our basic policy is to provide dividends on a continuous basis based on base earnings. We determine dividend amounts by comprehensively considering business performance trends, the need to build internal reserves for future growth, dividend payout ratio, and other relevant factors. We adopt a twice-yearly dividend system, with interim dividends resolved by the Board of Directors and year-end dividends resolved by the General Meeting of Shareholders.

Kenedix, Inc. (E05235) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)