OREANDA-NEWS. Nippon Steel & Sumitomo Metal Corporation announces that its Board of Directors decided to revise the outlook for the annual dividends.

The Company’s basic profit distribution policy is to pay dividends from distributable funds at the end of the first half and at the end of the fiscal year in consideration of the consolidated operating results and such factors as capital requirements for investment and other activities aimed at raising corporate value and performance prospects while also considering the financial structure of the Company on a consolidated and non-consolidated bases.

The Company has set a consolidated payout ratio of approximately 20% for use as an indicator for the distribution of profits based on due consideration of consolidated operating results.

Upon consideration of factors including the earnings forecast for the second half of the current fiscal year for approximately 35 billion yen in consolidated net income and the anticipated business environment, the newly integrated Company has adopted a policy to distribute a fiscal 2012 year-end dividend of 1.0 yen per share, representing a second-half consolidated payout ratio of approximately 25%.