Benesse's fundamental policy is to pay a stable and sustainable dividend to its shareholders, and is targeting a dividend payout ratio of at least 35% in the near term.

In accordance with this policy, the Company paid an annual dividend of ¥90 per common share for the fiscal year 2009 ended March 31, 2010, representing a payout ratio of 40.6% on a consolidated basis. For the fiscal year 2010 ending March 31, 2011, Benesse plans to pay the annual dividend of ¥95 per common share (comprising an interim dividend and year-end dividend of ¥47.5 each), based on the aforementioned policy.
Benesse plans to use retained earnings for business investment to drive medium- to long-term growth, including M&As, R&D, and investments to strengthen the business foundation The Company will be particularly proactive regarding M&As in fields that will further strengthen the Group's core competencies, such as education, language education, nursing care and lifestyle.

Dividend estimate (dividend per share of common stock)

Dividends per Share