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Notice on Dividend from Surplus

February 13, 2018

Yamaha Motor Co., Ltd. hereby announces that, at the Board of Directors meeting on February 13, 2018, the Company has resolved to place the payment of dividends from surplus with a record date of December 31, 2017 on the agenda of the 83rd Ordinary General Meeting of Shareholders, scheduled to be held on March 23.

1. Content

Amount Determined Previous Dividend Forecast
(November 2, 2017 Published)
Results for Previous Fiscal Year
(Year ended December 31, 2016)
Record Date

December 31, 2017

(as on left)

December 31, 2016

Cash Dividends per Share

49.00 yen

43.00 yen

30.00 yen

Total Dividend Payment

17,114 million yen

10,478 million yen

Effective Date

March 26, 2018

March 24, 2017

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. With regards to dividends, the Company is aiming towards a payout ratio of 30% of net income attributable to parent company shareholders and focusing on maintaining and increasing a stable financial platform and increasing new growth investment and stock dividends.
 Based on the net income attributable to the shareholders of the parent company in the fiscal year ended December 31, 2017 announced today, we will pay a year-end dividend of 49 yen per share. This will result in an annual dividend of 88 yen, which includes an interim dividend of 39 yen, an increase of 28 yen from the previous term (year).


(Reference) Breakdown of total dividend for the year

Dividend payment per Share (Yen)
Record Date Dividend Payment at End of Second Quarter End of Fiscal Year Yearly Dividend payout ratio(Consolidated)
Results & Forecasts for the Current Fiscal Year 39.00 yen 49.00 yen 88.00 yen 30.2%
Results for the Previous Fiscal Year(December 31, 2016) 30.00 yen 30.00 yen 60.00 yen 33.2%
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