Dividend Information

JAL regards shareholder returns as one of our most important management matters. Our fundamental policy is to actively implement shareholder returns through continuous and stable dividends and flexible share repurchases, while securing internal reserves for making investments for corporate growth in the future and changing business environment and to build a strong financial structure.

Since the spread of the COVID-19 pandemic, the JAL Group has not provided dividends for fiscal years 2020 and 2021 as it was necessary to place the highest priority on securing liquidity on hand and strengthening our financial position. However, the JAL Group plans to pay its year-end dividend for the current fiscal year, as cash flow is steadily recovering, positive profitability is expected for the full fiscal year, and as air transport demand is expected to make a steady recovery toward the next fiscal year. The forecasted dividend per share is 20 yen per share.

As air transport demand is still recovering mainly for international flights, and as there are many uncertain factors in the business environment surrounding our company, such as the risk of a weakening global economy, rising geopolitical risks, and trends in the fuel market and currency rates, we have set the dividend forecast at the above level as it is necessary to strengthen the company's financial position in order to be prepared for these risks.

We would like to express our deep appreciation to our shareholders for their continued support during the pandemic. Going forward, we will strive to achieve our basic policy of a continuous and stable shareholder return, that is in line with our business recovery.

*1 JAL undertook a two-for-one stock split of its common shares as of October 1, 2014, and each dividend recalucurated as such.