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Shareholder Return

Last updated : November 7, 2024

Basic Policy Concerning Shareholder Returns
Annual Dividends
Acquisitions of Treasury Stock

Basic Policy Concerning Shareholder Returns

The enhancement of shareholder returns is among NTT's most important management issues. Our basic policy is to pursue ongoing increases and flexible share buybacks in dividend policies.

We will continue to increase our corporate value and enhance our shareholder returns so that long-term shareholders will continue to choose our shares as an attractive option for their capital allocation.

Annual Dividends

For the fiscal year ending March 31, 2024, NTT plans to issue dividend payments of ¥5.1 per share, an increase of ¥0.3 per share from the previous fiscal year, making for the 14th consecutive year of dividend increases. This amount will also represent an increase of over 10 times from the fiscal year ended March 31, 2004.

Dividend Trends

^・ Dividend amounts have been adjusted in accordance with the 100-for-1 stock split effective on January 4, 2009, the 2-for-1 stock split effective on July 1, 2015, the 2-for-1 stock split effective on January 1, 2020, and the 25-for-1 stock split effective on July 1, 2023.

Past Dividend Trends

*You can scroll horizontally

	Interim Dividends	End-of-term Dividends	Annual Dividends
Fortieth Term (to March 2025)	¥2.6	¥2.6 E	¥5.2 E
Thirty-Ninth Term (to March 2024)	¥2.5	¥2.6	¥5.1
^* Stocks held by shareholders were split at a ratio of 1 to 25 with an effective date of July 1, 2023.
Thirty-Eighth Term (to March 2023)	¥2.4 [¥60]	¥2.4 [¥60]	¥4.8 [¥120]
Thirty-Seventh Term (to March 2022)	¥2.2 [¥55]	¥2.4 [¥60]	¥4.6 [¥115]
Thirty-Sixth Term (to March 2021)	¥2.0 [¥50]	¥2.2 [¥55]	¥4.2 [¥105]
Thirty-Fifth Term (to March 2020）	¥1.9 [¥95]	¥1.9 [¥47.5]	¥3.8 [-]
^* Stocks held by shareholders were split at a ratio of 1 to 2 with an effective date of January 1, 2020.
Thirty-Fourth Term (to March 2019)	¥1.7 [¥85]	¥1.9 [¥95]	¥3.6 [¥180]
Thirty-Third Term (to March 2018)	¥1.5 [¥75]	¥1.5 [¥75]	¥3.0 [¥150]
Thirty-Second Term (to March 2017)	¥1.2 [¥60]	¥1.2 [¥60]	¥2.4 [¥120]
Thirty-First Term (to March 2016)	¥1.0 [¥100]	¥1.2 [¥120]	¥2.2 [¥220]
^* Stocks held by shareholders were split at a ratio of 1 to 2 with an effective date of July 1, 2015.
Thirtieth Term (to March 2015)	¥0.9 [¥90]	¥0.9 [¥90]	¥1.8 [¥180]
Twenty-Ninth Term (to March 2014)	¥0.8 [¥80]	¥0.9 [¥90]	¥1.7 [¥170]
Twenty-Eighth Term (to March 2013)	¥0.8 [¥80]	¥0.8 [¥80]	¥1.6 [¥160]
Twenty-Seventh Term (to March 2012)	¥0.7 [¥70]	¥0.7 [¥70]	¥1.4 [¥140]
Twenty-Sixth Term (to March 2011)	¥0.6 [¥60]	¥0.6 [¥60]	¥1.2 [¥120]
Twenty-Fifth Term (to March 2010)	¥0.6 [¥60]	¥0.6 [¥60]	¥1.2 [¥120]
Twenty-Fourth Term (to March 2009)	¥0.55 [¥5,500]	¥0.55 [¥55]	¥1.1 [ - ]
^* Stocks held by shareholders were split at a ratio of 1 to 100 with an effective date of January 4, 2009.
Twenty-Third Term (to March 2008)	¥0.45 [¥4,500]	¥0.45 [¥4,500]	¥0.9 [¥9,000]
Twenty-Second Term (to March 2007)	¥0.4 [¥4,000]	¥0.4 [¥4,000]	¥0.8 [¥8,000]
Twenty-First Term (to March 2006)	¥0.3 [¥3,000]	¥0.3 [¥3,000]	¥0.6 [¥6,000]
Twentieth Term (to March 2005)	¥0.3 [¥3,000]	¥0.3 [¥3,000]	¥0.6 [¥6,000]
Nineteenth Term (to March 2004)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Eighteenth Term (to March 2003)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Seventeenth Term (to March 2002)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Sixteenth Term (to March 2001)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Fifteenth Term (to March 2000)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Fourteenth Term (to March 1999)	¥0.25 [¥2,500]	¥0.75 [¥7,500]	¥1.0 [¥10,000]
Thirteenth Term (to March 1998)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Twelfth Term (to March 1997)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Eleventh Term (to March 1996)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Tenth Term (to March 1995)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Ninth Term (to March 1994)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Eighth Term (to March 1993)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Seventh Term (to March 1992)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Sixth Term (to March 1991)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Fifth Term (to March 1990)	¥0.25 [¥2,500]	¥0.35 [¥3,500]	¥0.6 [¥6,000]
Fourth Term (to March 1989)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Third Term (to March 1988)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
Second Term (to March 1987)	¥0.25 [¥2,500]	¥0.25 [¥2,500]	¥0.5 [¥5,000]
First Term (to March 1986)	-	¥0.5 [¥5,000]	¥0.5 [¥5,000]

^* Dividend is adjusted according to the 100-for-1 stock split effective on January 4, 2009 and the 2-for-1 stock split effective on July 1, 2015 and the 2-for-1 stock split effective on January 1, 2020 and the 25-for-1 stock split effective on July 1, 2023. ([ ]:It is before stock split)

Acquisitions of Treasury Stock

The aggregate total of share buybacks conducted to FY2023 is approximately ¥5.5 trillion, and the aggregate total number of shares acquired to date has reached approximately 49% of our total outstanding shares.

We authorized share buybacks up to ¥200.0 billion's worth of shares in August 2024 and will conduct leading up to March 31, 2025.

Treasury Stock Acquisition Trends

[column] Total Shareholder Return (TSR)

Over the past ten years, our total shareholder return (TSR), which takes into account dividends and changes in share price, was 383%, a level of performance that exceeds the TOPIX Total Return index.

Ten-Year Changes in Share Price, Including Dividends