Citizen Watch Co.,Ltd.

The dividend has not been reduced for 5 consecutive years.The forecast annual dividend is JPY 53.0 per share or unit, with a forecast yield of 2.40%.Dividend on equity (DOE) is 4.18%, -0.18 points year over year.

Dividend on equity (DOE) is the annual dividend as a percentage of shareholders’ equity. Because it is less affected by temporary earnings swings, it helps assess the continuity of a company’s shareholder return policy.