Dividend Information

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We plan to pay total dividends of ¥105 per share for FY2011

Dividends Policy

At present, the OLC Group has no plans to make large-scale investments in business development to continue on from Tokyo Disney Resort in order to generate new growth over the four years ending March 2011. As a result, we will be able to increase the ratio of cash flow allocated to direct stockholder returns to higher levels than before. Based on this policy, we have set a target of increasing the consolidated payout ratio to 35 percent or higher from the fiscal year ending March 2008.
Moreover, We have set a numerical target of consolidated net income at the ¥27 billion level in the fiscal year ending March 2011, so that Annual Cash Dividends Per Share will increase to ¥100 level.

Annual Cash Dividends Per Share and Consolidated Payout Ratio

  '01/3 '02/3 '03/3 '04/3 '05/3 '06/3
Dividends per share ¥14 ¥19 ¥24 ¥29 ¥35 ¥45
Consolidated payout ratio 29.6% 14.9% 12.7% 15.7% 20.4% 27.7%
Earnings per share ¥47.3 ¥127.1 ¥188.2 ¥184.2 ¥171.1 ¥162.7
  '07/3 '08/3 '09/3 '10/3 '11/3
(Forecast)
'12/3
(Target)
Dividends per share ¥55 ¥60 ¥70 ¥100 ¥105 -
Consolidated payout ratio 32.1% 38.7% 35.6% 35.7% 35.1% 35.0%
[Forecast]
Earnings per share ¥171.4 ¥154.8 ¥196.8 ¥280.1 ¥298.9 -