|Fiscal Year Ending March 31, 2020
|(Plan) 20.0||(Plan) 20.0||(Plan) 40.0|
|Fiscal Year Ended March 31, 2019||20.0||20.0||40.0|
|Fiscal Year Ended March 31, 2018||19.0||21.0||40.0|
|Fiscal Year Ended March 31, 2017||* 24.0||14.0||* 38.0|
|Fiscal Year Ended March 31, 2016||17.0||17.0||34.0|
|Fiscal Year Ended March 31, 2015||12.0||16.0||28.0|
|Fiscal Year Ended March 31, 2014||7.0||9.0||16.0|
* Interim cash dividends for the fiscal year ending March 31, 2017 is comprised of ¥14.0 per share as an ordinary dividend and of ¥10.0 per share as the 100th anniversary commemorative dividend.
The distribution of returns to shareholders is one of NSK's important corporate policies. During the three years of the Sixth Mid-Term Management Plan (fiscal 2019 to 2021), we aim to deliver stable returns to our shareholders, targeting a dividend payout ratio of approximately 30% to 50% on a consolidated basis, and a per-share annual dividend of 40 yen or higher. We will also adopt a flexible stance to the purchase of treasury shares as one option in our capital policy, aiming to achieve total shareholder returns of 50% over the three-year period.
In implementing the above, we will take into account financial circumstances and other factors as appropriate.