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 plans to pay an annual dividend of ¥90.00 per common share applicable to the fiscal year under review, consisting of an interim dividend of ¥45.00 and a year-end dividend of ¥45.00 per common share. Accordingly, the Company's annual dividend for fiscal 2008 is the same ¥90.00 and represents a consolidated dividend payout ratio of 84.1%. For the next fiscal year, ending March 31, 2010, Benesse plans to pay an annual dividend of ¥90.00 per common share, comprising an interim dividend and a year-end dividend of ¥45.00 each, based on the aforementioned policy.

Benesse plans to effectively use retained earnings to boost future profits that it can return to shareholders by promoting new businesses, upgrading products and services in existing businesses and developing new products.

Dividend estimate (dividend per share of common stock)

Dividends per Share