Dividends
Basic Policy on Returns to Shareholders
Iwatani’s basic policy on earnings distribution calls for meeting shareholders expectations by maximizing corporate value in various ways, including investing to support growth strategies while returning earnings to shareholders through stable and uninterrupted dividend payments.
The Medium-Term Management Plan “PLAN27” aims to increase dividends steadily in line with profit growth, targets a payout ratio of 20% or higher in FY2027, which is the final fiscal year of the Plan, based on profit excluding impact of LPG import price fluctuation, and strives for progressive dividend payout without any dividend rollbacks.
In addition Cosmo Energy Holdings Co., Ltd was included in the scope of entities accounted for using the equity method on March, 2024. Accordingly, the dividend will be paid out in two categories as follows:
<Dividend Policy>
- (i)Dividend on profit excluding the impact of accounting for Cosmo Energy HD using the equity method
・In accordance with the target outlined in the “PLAN27”. - (ii)Dividend on the impact of accounting for Cosmo Energy HD using the equity method.
・Distribute 20% of profit of Cosmo Energy HD, excluding the impact of inventory valuation factors and multiplied by the shareholding ratio.
Dividend Trend
- *1: On October 1, 2017, the Company conducted a consolidation of its stock (5 shares → 1 share). On October 1, 2024, the Company conducted a four-for-one stock split of its common stock to shareholders. The result shown take each of these into account.
- *2: FY2019: include the commemorative dividend
- *3: Dividend on the impact of accounting for Cosmo Energy HD using the equity method.
(Above dividend policy (ii) ):Dividend for FY2024 is not yet determined.