Dividend Policy• Tokai Carbon’s policy to determine profit sharing is based on the earnings performance from a medium-term perspective, with due consideration given to securing sufficient retained earnings while aiming to strengthen the Group-wide business foundation, increase corporate value and pursue shareholders’ interest.• Our basic policy is to distribute dividends of surplus twice a year, an interim dividend and a year-end dividend. The decision-making body of such dividends of surplus is the Shareholders’ Meeting for the year-end dividend, and the Board of Directors for the interim dividend.• Retained earnings will be appropriated to strengthen financial condition and is intended to be used as funds to maintain stable dividend payments.• The Articles of Incorporation provide that an interim dividend may be distributed with a record date of June 30 every year by the resolution of the Board of Directors.20102011201220132014201520162017201820192020*Dividends per share (yen)887666612244848Dividend payout ratio (%)30.727.974.9105.650.051.5–20.77.032.061.6Dividends per share and dividend payout ratio (consolidated)Share Owner InformationShareholderNumber of shares held(1,000 shares)Financial Institutions73,952(35%)Individuals/Others89,522(42%)Foreign Corporations, etc.19,635(9%)Japanese Corporations21,987(10%)Financial Instruments Business Operators8,053(4%)Total213,149(100%)10%Japanese Corporations9%Foreign Corporations, etc.4%Financial Instruments Business Operators42%Individuals/Others35%Financial InstitutionsShareholding ratio1. Share numbers are rounded down to the nearest 1,000 shares. 2. The shareholding ratio was calculated excluding treasury stock.(as of December 31, 2019)* 2020=Forecast 2020Shareholding ratio63TOKAI CARBON ANNUAL REPORT 2019Vision and StrategyBusiness ReportSustainability ReportData Section
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