Stock and Bonds

Dividend Information

Dividend Policy

As a holding company of the Group (the Company, its subsidiaries and its affiliates are collectively referred as the "Group" or the "Asahi Group"), under the “Medium-Term Management Policy”, the Company is giving top priority to utilizing the generated cash flows to acquire foundations for growth including domestic and foreign M&As. In terms of shareholder returns, the Company aims to steadily increase dividends, targeting a dividend payout ratio of 30% (IFRS basis) by fiscal 2018. Efforts will also be made to enhance shareholder returns by considering flexible acquisition of treasury shares taking into account an appropriate balance with growth investment.

Fixed Date of Dividend Payout and Starting Date of Payout

Interim Dividend Year-end Dividend
Date of record June 30 December 31
Payment date Late August - Early September The following business day of the Annual General Meeting of Shareholders

Historical Data on Dividends per Share

FY2012 FY2013 FY2014 FY2015 FY2016(E)
Interim Dividend (yen) 14.0 21.5 22.0 24.0 26.0
Year-end Dividend (yen) 14.0 21.5 23.0 26.0 27.0
Total Dividend (yen) 28.0 43.0 45.0 50.0 53.0
Earnings per share (yen) 122.75 135.73 148.92 166.25 174.71
Dividend payout ratio (%) 22.8 31.7 30.2 29.1 30.3