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Notifications regarding Dividends from Surplus

February 12, 2015

Yamaha Motor hereby announces that at the Board of Directors meeting on February 12, 2015, the Company has determined to make payments of dividends from surplus with a record date of December 31, 2014, and will be placed on the agenda of the 80th Ordinary General Meeting of Shareholders, scheduled for March 26, 2015.

1. Content

Amount Determined Previous Dividend Forecast(announced November 6, 2014) Results for Previous Fiscal Year(Year ended December 31, 2013)
Record Date December 31, 2014 (as on left) December 31, 2013
Cash Dividends
per Share
25.50 yen 20.50 yen 16.00 yen
Total Dividend Payment 8,905 billion yen 5.586 billion yen
Effective Date March 27, 2015 March 26, 2014
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 dividends that reflect comprehensive consideration of the business environment, including trends in business performance and retained earnings, while maintaining a minimum payout ratio of 20% of consolidated net income.<br>
Based on the Consolidated Business Results for Fiscal Year Ended December 31, 2014 released today, and a payout ratio (consolidated) of 20%, the final dividend was determined at 25.50 yen per share, and in combination with an interim dividend of 14.50 yen, the yearly dividend will be 40 yen per share. This is an increase of 14 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 Dividend Payment at End of Fourth Quarter Yearly
Results for Current Fiscal Year and Plans 14.50 yen 25.50 yen 40.00 yen
Result of the Previous Term (year ended December 2013) 10.00 yen 16.00 yen 26.00 yen
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