Kuraray announces the upward revision of its year-end per-share dividend distribution for the fiscal year ended March 31, 2007, based on a decision reached at a Board of Directors meeting held on April 26, 2007.
The allocation of profits to shareholders is one of Kuraray's top management issues. Our target is to maintain a dividend payout ratio equivalent to or more than 30% of consolidated net income and to increase returns to shareholders through continuous improvements in performance. In addition, during the three-year span of our GS-21 medium-term business plan (fiscal 2006 - 2008) we will aim to improve capital efficiency and to attain a shareholder return ratio of 70% through dividend distributions and the buyback of treasury stock. Based on these aims and our fundamental dividend policy, we intend to propose the following upward revision of year-end dividends with due consideration given to performance results for the year ended March 31, 2007, at the Annual General Meeting of Shareholders scheduled to convene in June 2007.
|Interim dividend||Year-end dividend||Annual dividend|
|Previous forecast |
(as of November 2, 2006)
|Previous fiscal year distribution |
(fiscal year ended March 31, 2006)