• 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 FY2022

• In accordance with the basic profit distribution policy described above, Nippon Steel paid a dividend of \90 per share at the end of the first half. Regarding the fiscal year-end dividend, as disclosed at the third quarter results announcement (February 9, 2023), management has decided to propose a year-end dividend of \90 per share (the annual dividend will be a record-high at \180 per share) at the General Meeting of Shareholders.
  

Dividend of FY2023

• For FY2023, Nippon Steel plans to distribute a full-year  dividend of \140 or more per share (including an interim dividend of \70 or more).
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