Dividends

Dividends Policy

The COSEL Group recognizes continuously improving corporate value and returning higher profits to shareholders over the mid- to long-term as a key management policy. The group’s basic policy on profit distribution is to pay progressive dividends of surplus continuously and stably with a minimum Dividend on Equity（DOE）ratio of 3.5% based on business performance, financial position, and future cash flow, while maintaining a balance with retained earnings needed to sustain solid financial health and expand business in the future.

In addition, COSEL maintains a basic policy of paying dividends of surplus twice per year, one interim dividend and one year-end dividend. The Company’s Articles of Incorporation specifies that the Company “can pay dividends of surplus with approval by the board of directors in accordance with the provisions in Article 459, Paragraph 1 of the Companies Act,” and “The record date for year-end dividends shall be May 20 of each year, and the record date for interim dividends shall be November 20 of each year.”