Notice Regarding Distribution of Dividends from Surplus
Company name: SUBARU CORPORATION
Representative: Atsushi Osaki, Representative Director, President and CEO
(Securities code: 7270; Tokyo Stock Exchange Prime Market)
Contact for inquiries: Masayuki Miyamoto,
General Manager of Investor Relations Department
Phone: +81-3-6447-8825
The Company hereby announces that, at its Board of Directors meeting held on May 13, 2024, the Company resolved to make the following revision to its dividend payment using retained earnings with a record date of March 31, 2024.
This matter will be submitted to the 93rd annual general meeting of shareholders scheduled for June 19, 2024.
1. Details of Dividend
| Final amount | Latest dividend forecast (Announced on November 2, 2023) |
Dividend for the previous fiscal year (Fiscal year ended March 31, 2023) |
|
| Record date | March 31, 2024 | March 31, 2024 | March 31, 2023 |
| Dividend per share | ¥58.00 | ¥48.00 | ¥38.00 |
| Total amount of dividends | ¥43,627 million | – | ¥29,161 million |
| Effective date | June 20, 2024 | – | June 22, 2023 |
| Source of dividend payment | Retained earnings | – | Retained earnings |
2. Reason
The Company positions shareholder returns as an important managerial issue and endeavors to make stable and continuous dividend payments and to flexibly repurchase its shares to achieve a total return ratio of 30–50 percent, while comprehensively considering factors such as its performance, investment plans, and business environment each fiscal year.
The Company has determined to pay a final dividend of ¥58 per share for the fiscal year ended March 31, 2024, revising upward its latest ordinary dividend payment forecast of ¥38 per share by ¥10 to ¥48 given the better-than-projected consolidated financial results for the fiscal year and other reasons, and adding the 70th commemorative dividend of ¥10 (as announced on November 2, 2023).
This will bring the Company’s annual dividend per share to ¥106 including an interim dividend per share of ¥48 which the Company has already paid.
(Reference) Breakdown of Annual Dividend
| Dividend per share (¥) | |||
| Record date | End of 2Q | End of fiscal year | Total |
| Dividend for the fiscal year ended March 31, 2024 |
¥48.00 (Ordinary dividend: ¥38.00) (Commemorative dividend: ¥10.00) |
¥58.00 (Ordinary dividend: ¥48.00) (Commemorative dividend: ¥10.00) |
¥106.00 (Ordinary dividend: ¥86.00) (Commemorative dividend: ¥20.00) |
| Latest dividend forecast (February 8, 2024) |
– | ¥48.00 (Commemorative dividend: ¥10.00) |
¥96.00 (Commemorative dividend: ¥20.00) |
| Dividend for the previous fiscal year (Fiscal year ended March 31, 2023) |
¥38.00 | ¥38.00 | ¥76.00 |
###