Nissan 2011 Annual Report Download - page 12

Download and view the complete annual report

Please find page 12 of the 2011 Nissan annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 46

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46

changing conditions. We have put this capability successfully to the test during the changes in the
market and business environment following the financial crisis touched off in 2008 and, more recently,
following the March 11 earthquake in Japan.
The ultimate barometer of any management team’s performance is in the value it has created for
shareholders. This is a responsibility that I take very seriously. The Nissan Power 88 strategies and
objectives are designed to significantly enhance shareholder value through business growth that will
drive increased revenue and profits, as well as strong sustained free cash flow generation, allowing us
to continue to strengthen our balance sheet. Reflecting our confidence in this plan, we announced in
June our intention to increase our fiscal 2011 dividend 100% from last year to ¥20 per share. Over
the Power 88 period, Nissan’s dividend policy will target a minimum payout ratio of 25% of net income,
which encompasses our objectives to improve our credit rating and strengthen our balance sheet.
Under this policy, we project that the dividend per share amount will increase during the course of
Nissan Power 88.
Message from the CFO
Joseph G. Peter
Chief Financial Officer
Mid-term Plan
Performance Corporate Data Corporate Governance
11
NISSAN Annual Report 2011