In order to maintain the stability of dividends and the appropriate distribution of earnings to shareholders, USS has established a consolidated dividend payout ratio target as a policy for paying a dividend that reflects results of operations. Currently, the basic policy is to pay a dividend that results in a consolidated payout ratio of at least 55%.

Dividend Per Share (Yen)

2nd Quarter end Year-end Total
FY3/22(forecast) 29.2 29.2 58.4
FY3/21 27.75 27.75 55.5
FY3/20 25.6 29.8 55.4
FY3/19 24.6 25.8 50.4