Fundamental Policy for Distribution of Earnings
TDK recognizes that achieving growth in corporate value over the long term ultimately translates into higher shareholder value. In line with this recognition, TDK's fundamental policy is to work to consistently increase dividends through growth in earnings per share. By actively investing for growth, mainly in the development of new products and technologies in key fields so as to respond precisely to rapid technological advances in the electronics industry, TDK is aiming to increase long-term corporate value. Accordingly, TDK actively reinvests the Company's profits in business activities and sets dividends taking comprehensively into consideration the return on equity (ROE) and dividends on equity (DOE) on a consolidated basis, as well as changes in the business environment, among other factors.
Projected dividends per share for fiscal 2021 are as follows. TDK has revised the interim dividend to 90 yen from 80 yen and the year-end dividend forecast to 90 yen from 80 yen, based on the revision of the consolidated projections for fiscal 2021 as well as on the fundamental policy for distribution of earnings.
Dividends per common share
|Term||FY March 2017||FY March 2018||FY March 2019||FY March 2020||FY March 2021|
|Dividends per common share||Yen 120||Yen 130||Yen 160||Yen 180||Yen 180 (Forecast)|
|Interim dividends||Yen 60||Yen 60||Yen 80||Yen 90||Yen 90|
|Year-end dividends||Yen 60||Yen 70||Yen 80||Yen 90||Yen 90 (Forecast)|
|Payout ratio||10.4%||25.9%||24.6%||39.3%||29.9% (Forecast)|
No Special Benefits for Shareholders
We do not have a system of special benefits for shareholders.
Our basic policy is to return profits through dividends.