Returns to Shareholders and Dividend

Toshiba intends to maintain an average consolidated dividend payout ratio of at least 30% (*Note), and shareholders’ equity in excess of the appropriate level will be used to provide shareholder returns, including share repurchases. The appropriate level of capital shall be reviewed by the Board of Directors on a regular basis. The capital in excess of the appropriate level will be used to provide shareholder returns, including share repurchases in FY22 and FY23, to the extent that doing so does not interfere with the smooth execution of the forthcoming business separation.
While maximizing shareholder’s value, Toshiba Corporation will immediately monetize its shares in Kioxia Holdings Corporation to the extent which is practically possible to conduct, and it will return the net proceeds in full to shareholders, within the limits stipulated by applicable laws and regulations.
Furthermore, Toshiba expects to continue to undertake portfolio streamlining, including business divestures, while planning to use appropriate leverage to continuously improve capital allocation in order to further enhance shareholder returns and the long term value of Toshiba.
Assuming the smooth execution of the business plan disclosed today, based on the above policy, it is expected that the capital will exceed the appropriate capital level by approximately 300 billion yen in the next two years. This excess capital will be used for shareholder returns to the extent that it does not interfere with the smooth execution of the spin-off.

(*Note) For the time being, equity method profit and loss for KIOXIA Holdings Corporation is excluded from Toshiba’s policy on shareholder returns.


Special dividend (Jun. 30): 110 yen, Interim dividend (Sep. 30): 40 yen, Year-end dividend (Mar. 31): 40 yen (Planned)


Dividend 2019/3 2020/3 2021/3
Total dividend per share 30.0 20.0 80.0
Interim dividend
(Payment : December of the fiscal year)
0.0 10.0 10.0
Year-end dividend
(Payment : June of next fiscal year)
10.0 10.0 70.0
Special divided 20.0 0.0 0.0

Stock Repurchase

Sep. 21, 2021
Sep. 10, 2021
Sep. 1, 2021
Aug. 2, 2021
Jun. 30, 2021
Jun. 30, 2021
Jun. 7, 2021
Nov. 8, 2019
Nov. 1, 2019
Oct. 1, 2019
Sep. 2, 2019
Aug. 1, 2019
Jul. 1, 2019
Jun. 3, 2019
May 7, 2019
Apr. 1, 2019
Mar. 1, 2019
Feb. 1, 2019
Dec. 3, 2018
Nov. 21, 2018
Nov. 21, 2018
Nov. 15, 2018
Nov. 13, 2018
Nov. 8, 2018

Hospitality Programs for Shareholders

We do not have hospitality programs for shareholders at this time.

This Web site contains projections of business results, statements regarding business plans and other forward-looking statements. This information is based on certain assumptions, such as the economic environment, business policies and other factors, as of the date when each document was posted. Actual results may differ significantly from the estimates listed here.