Distribution of Profits

Distributing earnings to shareholders is one of the highest priorities of Milbon. The basic policy is to distribute profits based on results of operations while strengthening our operations by retaining earnings for future growth. We have raised the dividend steadily during the 23 fiscal years since our over-the-counter market listing (currently JASDAQ). After nine stock splits, 1,000 shares held at our initial public offering are now 6,952 shares. Also, after adjusting for these stock splits, the annual dividend per share has increased by a multiple of 25 during these 23 fiscal years.

Trend of Dividend per share (Retroactively adjusted)

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
dividend
per
share
15.00 16.00 22.00 27.00 32.00 35.00 38.00 40.00 45.00 50.00 52.00 53.00 55.00 55.00 60.00 64.00 66.00 68.00 68.00 74.00 78.00 92.00 54.00
stock
split
1:1.1 - 1:1.1 1:1.5 1:1.1 - 1:1.1 - - 1:1.2 - - - - 1:1.1 - - 1:1.2 - - - 1:2 -
(Retroac-
tively
adjusted)
dividend
per
share
2.16 2.53 3.48 4.70 8.35 10.04 10.90 12.63 14.20 15.78 19.70 20.08 20.83 20.83 22.73 26.67 27.50 28.33 34.00 37.00 39.00 46.00 54.00

Note: The retroactively adjusted figures are calculated as if all nine stock splits had taken place in 1996.

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