Epson 2010 Annual Report Download - page 31

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30
6. Dividend policy
The Company believes in distributing profits by maintaining stable dividend payments and seeks to increase cash
flow through greater management efficiency and improved profitability. On that basis, with the goal of achieving
a consistent consolidated dividend payout ratio of 30% over the medium- to long-term, the Company distributes
profits to shareholders while taking into account the need for capital to fuel its business strategy and to maintain
its business performance and financial standing.
The Company’s dividend policy is to pay cash dividends twice a year. The year-end dividend is determined by
resolution of the general shareholders’ meeting and the interim dividend is determined at a meeting of the board
of directors.
This fiscal year, due to the uncertainty surrounding the global economic outlook and our own full-year financial
outlook, we took the extremely regrettable decision not to pay an interim dividend. However, from the second
half onward there have been clear signs that real business results are recovering so, in line with our policy of
returning stable profits to shareholders, we are paying a year-end dividend of ¥10 per share.
The Company’s Articles of Incorporation allow the Company to issue an interim dividend with a base date of
September 30 every year by resolution of the board of directors.
The Company’s distribution of retained earnings for the fiscal year under review is as follows:
Distribution of retained earnings for the fiscal year under review
Date approved Cash dividends (Millions
of yen)
Cash dividend per share
(Yen)
June 22, 2010, by resolution of
the general shareholders’ meeting 1,997 10
* Please refer to the following for historical information about Epson’s share dividends:
http://global.epson.com/IR/stock dividends.htm