May 15, 2024
To whom it may concern
Company Name: Mizuho Financial Group, Inc.
Representative: Masahiro Kihara, President and Group CEO
Head Office: 1-5-5 Otemachi, Chiyoda-ku, Tokyo
Code Number: 8411 (Prime Market of Tokyo Stock Exchange)
Notice regarding Distribution of Dividends from Surplus
Mizuho Financial Group, Inc. hereby announces that its Board of Directors resolved today to distribute year-end dividends from surplus with a record date of March 31, 2024, as set forth below.
1. Distribution of year-end Dividends from Surplus
| Determined Items | Most recent estimates announced on November 13, 2023 |
Actual results for the fiscal year ended March 31, 2023 | |
| Record date | March 31, 2024 | March 31, 2024 | March 31, 2023 |
| Dividends per share | JPY 55.0 | JPY 50.0 | JPY 42.5 |
| Total amount of dividends | JPY 139,610 million | - | JPY 107,882 million |
| Effective date | June 6, 2024 | - | June 6, 2023 |
| Dividend resource | Retained Earnings | - | Retained Earnings |
(Reference) Details of the Dividends
| Dividends per share | |||
| Interim dividends | Year-end dividends | Annual dividends | |
| Fiscal 2022 | JPY 42.5 | JPY 42.5 | JPY 85.0 |
| Fiscal 2023 | JPY 50.0 | JPY 55.0 | JPY 105.0 |
| Fiscal 2024 (estimates) | JPY 57.5 | JPY 57.5 | JPY 115.0 |
2. Reasons
We maintain a capital policy pursuing the optimum balance between capital adequacy, growth investment and enhancement of shareholder returns. In accordance with this initiative, we set forth the shareholder return policy pursuant to which progressive dividends are our principal approach while also executing flexible and intermittent share buybacks; we determine the amount of dividends based on the perspective of achieving steady growth of our stable earnings base, taking into consideration a dividend payout ratio of 40% as a guide.
Based on the financial results for Fiscal 2023 announced today and, in accordance with our shareholder return policy, we will increase the year-end dividends by JPY 5 from the most recent estimates, to JPY 55 per share for Fiscal 2023. As a result, the annual dividends increase by JPY 20 to JPY 105 per share from the previous fiscal year.
Additionally, based on the consolidated earnings estimates for Fiscal 2024, which were also announced today, the annual dividends for Fiscal 2024 are estimated to be JPY 115 per share, a year-on-year increase of JPY 10.
We aim to continuously expand our stable earnings base and enhance shareholder returns.
End of document
This immediate release contains statements that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including estimates, forecasts, targets and plans. Such forward-looking statements do not represent any guarantee by management of future performance. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements reflect our current views with respect to future events and are subject to risks, uncertainties and assumptions. Our views regarding dividends for fiscal 2024 set forth in this immediate release are based on our assessment of information regarding the business and market environment that are available as of the date of this immediate release and assumptions regarding factors that are currently uncertain and may impact our financial performance. Actual results may differ materially, for example, if our assessment of business and market environment and their impact on our business, financial condition and results of operations proves to be inaccurate. Other factors that could affect our financial condition and results of operations are included in "Item 3.D. Key Information—Risk Factors" and "Item 5. Operating and Financial Review and Prospects" in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission ("SEC"), which is available in the Financial Information section of our web page at www.mizuhogroup.com and also at the SEC's web site at www.sec.gov. We are under no obligation, and disclaim any obligation, to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by the rules of the Tokyo Stock Exchange.