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Dividend Policy

1. Dividend Policy and the dividends of FY2020

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 environments and to build a strong financial structure.

Due to the spread of COVID-19 since February 2020, however, the airline industry including the JAL Group has been severely affected. As a result, EBIT decreased to loss of 131 billion yen. Yet, it is unclear when the COVID-19 spread would abate and diminish. Considering the above, we determined to pursue liquidity at hand as our first priority. Therefore, we regret that we have determined not to pay interim dividends. We sincerely apologize to our shareholders and investors and would like to ask for their understanding amid the very difficult situation that we are currently in.
For the forecast of the year-end dividends per share and the total dividends per share for the fiscal year ending March 2021, it will be undetermined because the impact of the new coronavirus on JAL’s performance is not foreseeable at this moment.

2. Dividend Forecast

This table can be scrolled horizontally.
  Interim Dividend Year-End-Dividend Total
FY / March 2021 - undetermined undetermined
This table can be scrolled horizontally.

3. Fixed Date of Interim Dividend Payout and Starting Date of Payout

This table can be scrolled horizontally.
  Interim Dividend
Fixed Date of Payout September 30, 2019
Starting Date of Payout December 3, 2019

4. Dividend (Result)

Please refer to the above "Dear Shareholders, from President Akasaka" for the Year-End-Dividend of FY2019.

This table can be scrolled horizontally.
  Interim Dividend Year-End-Dividend Total
FY / March 2020 JPY 55.00  -  JPY 55.00
FY / March 2019 JPY 55.00 JPY 55.00 JPY 110.00
FY / March 2018 JPY 52.50 JPY 57.50 JPY 110.00
FY / March 2017  -  JPY 94.00 JPY 94.00
FY / March 2016  -  JPY 120.00 JPY 120.00
FY / March 2015  -  JPY 104.00 JPY 104.00
FY / March 2014  -  JPY 160.00
(*1JPY 80.00)
JPY 160.00
(*1JPY 80.00)
FY / March 2013  -  JPY 190.00
(*1JPY 95.00)
JPY 190.00
(*1JPY 95.00)
This table can be scrolled horizontally.

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

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