Notifications regarding Dividends from Surplus and Deferred Tax Assets
February 12, 2014
Yamaha Motor hereby announces that at the Board of Directors meeting on February 12, 2014, the Company has determined to make payments of dividends from surplus with a record date of December 31, 2013, and will be placed on the agenda of the 79th Ordinary General Meeting of Shareholders, scheduled for March 25, 2014. In addition, with the review of the possibility of a return on investment shown in the Consolidated Business Results for Fiscal Year Ended December 31, 2013 (released today), the Company announces an additional allocation of the deferred tax asset.
1．Dividends from Surplus
(1）Content
| Amount Determined | Previous Dividend Forecast(announced August 6, 2013) | Results for Previous Fiscal Year(Year ended December 31, 2012) | |
|---|---|---|---|
| Record Date | December 31, 2013 | (as on left) | December 31, 2012 |
| Cash Dividends per Share | 16.00 yen | 10.00 yen | 5.00 yen |
| Total Dividend Payment | 5,586 million yen | － | 1,745 million yen |
| Effective Date | March 26，2014 | － | March 27，2013 |
| Dividend Source | Earned Surplus | － | Earned Surplus |
(2）Reason
Recognizing that shareholders’ interests represent one of the Company’s highest management priorities, the Company has been striving to meet shareholder expectations by working to maximize its corporate value through a diversity of business operations worldwide. The Company aims to maintain a balance between proactive investment for growth, and returns to shareholders and the repayment of borrowings, and provide returns that reflect comprehensive consideration of the business environment, including trends in business performance and retained earnings, while maintaining a minimum dividend payout ratio of 20% of consolidated net income.
Based on the Consolidated Business Results for Fiscal Year Ended December 31, 2013 released today, and a payout ratio (consolidated) of 20%, the final dividend was determined at 16 yen per share, and in combining an interim dividend of 10 yen, the yearly dividend will be 26 yen per share. This is an increase of 16 yen from the previous (yearly) term.
(Reference) Breakdown of the yearly dividend
| Cash Dividends per Share (yen) | |||
|---|---|---|---|
| Record Date | Dividend Payment at End of Second Quarter | End of term | Yearly |
| Results for Current Fiscal Year and Plans | 10.00 yen | 16.00 yen | 26.00 yen |
| Result of the Previous Term (Full fiscal year ending December 2012) | 5.00 yen | 5.00 yen | 10.00 yen |
2．Allocation of the Deferred Tax Asset
With the review of the possibility of a return on investment from deferred tax assets in overseas subsidiaries, the deferred tax asset has been additionally allocated for the Consolidated Business Results for Fiscal Year Ended December 31, 2013. Accordingly, income taxes have been reduced by 9,858 million yen, in turn increasing the consolidated net income by the same amount.
