Dividend

We aim to mid to long term increase the stock price and pay dividends consistently.

Dividend Policy

CyberAgent considers the return of earnings to shareholders to be a top management priority. Our basic policy is to improve the stock price over the mid to long term by growing the business and improving capital efficiency while providing dividends. The company is currently investing in “ABEMA,” the new future of TV, to develop a new business pillar over the medium to long term. The new management index “DOE* 5% or more” as guidance is set to reciprocate shareholders’ support during the investment period.

*DOE: Dividend on Equity (ROE x Dividend Payout Ratio)

Year-end Dividend

The FY2020 year-end dividend is decided to be 34 yen to achieve DOE 5% or more, which is set as a management index.

Fiscal Year	Dividend per Share
FY2021(Estimated)	11 yen （Amounts without reflecting the stock split 44 yen）
FY2020	34 yen
FY2019	33 yen

*CyberAgent conducted a four-for-one split of its common stock with a record date of March 31, 2021, and in effect on April 1, 2021.
There is no substantive change to the year-end dividend forecast of 37 yen per share announced on October 28, 2020.

Dividend History and Forecast

Share Buyback and Cancellation

We had implemented four share buybacks and cancellations in the past.

*Stock price reflects all stock splits in the past. (The share trading unit was changed to 100 shares on October 1, 2013.)

Transaction Period	Purchase Method	Amount
February 1, 2013, to February 7, 2013	Purchase in the open market	4.99 billion yen
October 28, 2011, to October 31, 2011	Purchase in the open market	1.99 billion yen
November 14, 2007, to November 15, 2007	Purchase in the open market	0.99 billion yen
February 27, 2002, to September 17, 2002	Purchase in the open market	1.5 billion yen