Dividend Policy

Paying stable dividends is SEPCO’s basic policy for returns to shareholders, which are decided in light of comprehensive consideration of business results, financial position, and medium-to-long-term business conditions. Further, stipulations in SEPCO’s articles of incorporation enable the payment of interim cash dividends pursuant to Article 454, Paragraph 5 of Japan’s Companies Act, and SEPCO’s basic policy is to pay two cash dividends a year, an interim dividend and a year-end dividend. The interim dividend is set by the Board of Directors, while the final year-end dividend is set by the general meeting of stockholders.