November 13, 2023
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)
Interim Dividends and Revision to Dividends Estimates
Mizuho Financial Group, Inc. ("MHFG") hereby announces that MHFG resolved at the meeting of its Board of Directors held today to pay interim dividends, with a record date of September 30, 2023, and to revise its estimates of the year-end and annual dividends per share for the fiscal year ending March 31, 2024, as set forth below.
1. Interim dividends
| Determined Items | Most recent estimates (announced on May 15, 2023) |
Actual results for the fiscal year ended March 31, 2023 | |
| Record date | September 30, 2023 | September 30, 2023 | September 30, 2022 |
| Dividends per share | JPY 50.0 | JPY 47.5 | JPY 42.5 |
| Total amount of dividends | JPY 126,919 million | - | JPY 107,889 million |
| Effective date | December 6, 2023 | - | December 6, 2022 |
| Resource of dividends | Retained Earnings | - | Retained Earnings |
2. Revision of dividends estimates
| Dividends per share | |||
| Interim dividends | Year-end dividends | Annual dividends | |
| Previous estimates (A) | JPY 47.5 | JPY 47.5 | JPY 95.0 |
| Revised estimates (B) | - | JPY 50.0 | JPY 100.0 |
| Actual results for the fiscal year ending March 31, 2024 (B) | JPY 50.0 | - | - |
| Net change (B–A) | +JPY 2.5 | +JPY 2.5 | +JPY 5.0 |
[Reference]
| Actual results for the fiscal year ended March 31, 2023 (C) | JPY 42.5 | JPY 42.5 | JPY 85.0 |
| Net change (B–C) | +JPY 7.5 | +JPY 7.5 | +JPY 15.0 |
3. 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.
Due to revising Consolidated Earnings Estimates for Fiscal 2023 upward in the Consolidated Financial Statements for the Second Quarter of Fiscal 2023 announced today, in accordance with our shareholder return policy, we determined to increase the interim dividends by JPY 2.5 to JPY 50.0 per share for the fiscal year ending March 31, 2024.
Additionally, we also revised the year-end dividend estimates from the previously estimated JPY 47.5 to JPY 50.0 per share, for an increase of JPY 2.5. As a result, the annual dividends are estimated to be JPY 100.0 per share, an increase of JPY 5.0 from the previous estimates and that of JPY 15.0 from the dividend paid for the fiscal year ended March 31, 2023.
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 2023 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.