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Tokio Marine & Nichido

Nisshin Fire

Nisshin Fire

Tokio Marine & Nichido Life

Tokio Marine & Nichido Financial Life

Tokio Marine Millea SAST

Philadelphia Insurance Companies

Kiln Group

Return to shareholders

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  • Stock Information
  • Return to shareholders
  • Shareholders' Meeting
  • Analysts Coverage
  • Rating Information

Dividend

Dividend Trends

(yen)  

Fiscal year200220032004200520062007200820092010 2011(projection)
   Interim----1518242425 25
   Year-End20222230213024262525
   Annual20222230364848505050

Dividend Trends
We have steadily increased dividend per share to shareholders. For instance, despite a significant decline in net income in FY2008 affected by Lehman shock, we maintained dividend per share unchanged from the previous fiscal year.
Dividend Policy

We aim steadily growing return to shareholders and the target range of payout ratio is set at between 40% and 50% of core adjusted earnings.
*"Core adjusted earnings"=(Adjusted earnings) - (Increase in EV at life insurance business)
  (The definition of "Adjusted earnings")

Trends in pay-out ratio

unit: bn yen  

Fiscal Year20062007200820092010
 Average core adjusted earnings90.0100.080.085.070.0
 Dividends29.838.738.039.438.6
 Payout ratio of average core adjusted earnings33%39%48%46%55%

Share repurchases

Basic Policy on Share Repurchases (New Policy:(FY09 or after))
 1  Establish the "capital strategy budget"
The amount calculated by multiplying "capital (*) by capital cost rate" is set as the maximum amount for "capital strategy budget". The actual budget will be determined by comprehensively considering the plans such as business investments for corresponding year and equity capital standards, etc.
"Capital (*)"=Equity capital + Catastrophe reserves + Contingency reserves + Reserves for price fluctuation (Current capital (*) : approx. 1,900 bn yen)
Establish the「capital strategy budget」
 2  Establish share repurchases budget
The amount calculated by deducting "dividends to shareholders" from "capital strategy budget" will be utilized for "share repurchases".
Establish share repurchases budget
 3  Shares repurchased
The shares repurchased will not necessarily be cancelled and rather the shares will be swiftly used for business investments, etc.

Past results

(unit : bn yen)  

Fiscal Year2004200520062007200820092010(projection)
   Share repurchases70.1859050-50TBD