Tokio Marine Holdings, Inc.
President: Shuzo Sumi
TSE code number: 8766
Tokio Marine Holdings, Inc. (the "Company") announced today that its board of directors on May 20, 2010, adopted the following resolutions: 1. to distribute surplus with a record date of March 31, 2010; and 2. to resume share repurchases.
1. Distribution of surplus
The Company intends to make the following proposal for the distribution of surplus at the 8th Ordinary General Meeting of Shareholders to be held on June 28, 2010.
(1) Details
| | Expected dividends | Previous forecast on dividends (*) | Dividends paid for the fiscal year ended March 31, 2009 |
| Record date | March 31, 2010 | March 31, 2010 | March 31, 2009 |
| Dividend per share | 26 yen | 24 yen | 24yen |
| Total pay out | 20,477 million yen | - | 18,901 million yen |
| Effective date | June 29, 2010 | - | June 30, 2009 |
| Source of dividends | Retained earnings | - | Retained earnings |
(*) Forecast announced on February 12, 2010.
(2) Reasons
The Company regards the distribution of profits to shareholders as one of its most important management tasks, focuses on improving its ability to do so, and maintains a policy to pay stable dividends. With regard to dividends for the fiscal year ended March 31, 2010, in light of the Company’s policies and the business results for the fiscal year, the Company resolved to slightly increase the dividend to 26 yen per share. Together with the interim dividend of 24 yen per share, the annual amount of dividends will be 50 yen per share, an increase of 2 yen per share from the previous fiscal year.
(Reference) Breakdown of annual dividends
| Record date | September 30 | March 31 | Annual amount |
| | Per share amount | Total amount | Per share amount | Total amount | Per share amount | Total amount |
| Fiscal year ended March 31, 2010 | 24 yen | 18,902 million yen | 26 yen | 20,477 million yen | 50 yen | 39,379 million yen |
| Fiscal year ended March 31, 2009 | 24 yen | 19,101 million yen | 24 yen | 18,901 million yen | 48 yen | 38,002 million yen |
2. Resumption of share repurchases
The board of directors approved the resumption of share repurchases, which were suspended on November 19, 2008, of up to 25 billion yen through the time when the Company announces its business results for the first half of the fiscal year. Based on this decision to resume share repurchases, the board of directors will set upper limits on the volume and number of shares to be repurchased for each period in which repurchases may be made, pursuant to Article 156 of the Companies Act which is applicable in accordance with Article 165, paragraph 3 of the Companies Act. The Company may modify its share repurchase plans in light of changes in its business environment or other factors.
