NICIGAS’ Policy on Return to Shareholders
As of April 27th, 2022
■ For FYE 03/22, NICIGAS forecasts 100% total return ratio
NICIGAS focuses on Return to Shareholders. For FYE 03/23, NICIGAS forecasts ¥11.0B of total shareholders’ return and 100% of total return ratio with the plan of ¥11.0B net income. The breakdown is 1) ¥7.5B of dividend (+¥1.5B YoY) and 2) ¥3.5B of repurchase of treasury stocks. Dividend per share(*) will increase by ¥15.0 (YoY) to ¥65.0. With regards to the balance between dividend amount and that of repurchase of treasury stocks, NICIGAS has been increasing the dividend proportion, based on its profit growth.
■ Focusing on BS control to achieve this return policy
In order to enhance return on invested capital (ROIC), NICIGAS has been shifting its asset to “higher profit generating asset (LP and ICT)” from “lower profit generating asset(cash and head office)” without expanding total asset size, and expands profit from electricity business that needs no asset. In addition, for the return to shareholders, NICIGAS will enhance it without holding unnecessary shareholders’ equity by setting appropriate capital-to-asset ratio as 45-50%.
(*) After the stock split (NICIGAS split its ordinary share three-for-one on April 1st, 2021)
Trend of dividend (after stock split)
*Record date for interim dividends is September 30th and that for year-end dividends is March 31st, respectively.