• Consolidated dividend annual payout ratio target: around 30%
• Factors to be considered to return the profit to shareholders include:
  • capital requirements for investments to raise corporate value,
  • our performance forecast,
  • consolidated and non-consolidated balance sheets.
• The level of the first-half dividend is determined based on consideration of interim performance figures and forecasts for the full fiscal year performance.

Dividend of FY2024

• Nippon Steel will strive hard in fiscal 2025 to secure underlying consolidated business profit of \900 billion or more, and most losses from reorganization are expected to be eliminated, thanks to the almost-secured effects of various measures including the restructuring measures and capital expenditures. Based on these assumptions and our policy of providing continuous, high-level shareholder returns, Nippon Steel plans to distribute a full-year dividend of \160 per share in fiscal 2024, maintaining the same level as in fiscal 2023.
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