Dividends

Dividends Result

5th Fiscal Period (ended May 2018)

Dividends per Unit (excluding Surplus Earing Distribution) Surplus Earning Distribution per Unit Total Dividends per Unit
3,512 Yen 464 Yen 3,976 Yen
  • Dividends payable date is August 16, 2018
  • The asset management period is from December 1, 2017 to May 31, 2018 (6 months)
Forecast Dividends

6th Fiscal Period (ending November 2018)

Dividends per Unit (excluding Surplus Earing Distribution) Surplus Earning Distribution per Unit Total Dividends per Unit
3,160 Yen 350 Yen 3,510 Yen
  • Actual amounts of dividents may vary and TIF does not guarantee the amount of the above forecasted dividends
  • The asset management period is from June 1, 2018 to November 30, 2018 (6 months)
  • Record date is end of November, 2018
    The last trading day for investment units with rights on the Tokyo Stock Exchange is scheduled for November 27. 2018
  • Dividends are scheduled to be decleard on mid-January, 2019
  • Dividends are scheduled to be paid on mid-Feburary, 2019

7th Fiscal Period (ending May 2019)

Dividends per Unit (excluding Surplus Earing Distribution) Surplus Earning Distribution per Unit Total Dividends per Unit
3,297 Yen 334 Yen 3,631 Yen
  • Actual amounts of dividents may vary and TIF does not guarantee the amount of the above forecasted dividends
  • The asset management period is from December 1, 2018 to May 31, 2019 (6 months)
  • Record date is end of May, 2019
    The last trading day for investment units with rights on the Tokyo Stock Exchange is scheduled for May 28. 2019
  • Dividends are scheduled to be decleard on mid-July, 2019
  • Dividends are scheduled to be paid on mid-August, 2019

8th Fiscal Period (ending November 2019)

Dividends per Unit (excluding Surplus Earing Distribution) Surplus Earning Distribution per Unit Total Dividends per Unit
2,935 Yen 336 Yen 3,271 Yen
  • Actual amounts of dividents may vary and TIF does not guarantee the amount of the above forecasted dividends
  • The asset management period is from June 1, 2019 to November 30, 2019 (6 months)
  • Record date is end of November, 2019
    The last trading day for investment units with rights on the Tokyo Stock Exchange is scheduled for November 26. 2019
  • Dividends are scheduled to be decleard on mid-January, 2020
  • Dividends are scheduled to be paid on mid-Feburary, 2020
Change in Divident per Unit (including Surplus Earning Distribution)
dividend chart
2nd FS
(ending Nov. 2016)
3rd FS
(ending May. 2017)
4th FS
(ending Nov. 2017)
5th FS
(ending May. 2018)
6th FS
(ending Nov. 2018)
7th FS
(ending May. 2019)
8th FS
(ending Nov. 2019)
Dividends per Unit 3,121 3,021 3,123 3,512 (3,160) (3,297) (2,935)
Surplus Earning Distribution per Unit 0 0 463 464 (350) (334) (336)
Total Dividends per Unit 3,121 3,021 3,586 3,976 (3,510) (3,631) (3,271)

values in parentheses are forecast

Investment Strategy

Dividends is distributed by regular cash and payable within three months on each fiscal period to registered unitholders recorded in the registry of unitholders at the last trading date of each fiscal period (End of May and November in each year)

TIF determines the amount that exceeds 90% (or other value if there are amendments in relevant legislatures) of the TIF's distributable profit as stated to Paragraph 1 of the Act on Special Measures Concerning Taxation

Surplus Earnings Distribution (Return of Capital) and Acquisition of Treasury Investment Units

TIF's primary investment target, solar energy facilities, tends to record higher ratio of deputation compared to ordinal J-REIT while Capex and repair/maintenance costs for solar energy facility tend to be lower Therefore as a general policy, TIF distributes Surplus Earnings Distribution (SED, aka Return of capital) within the limits and relevant legislatures to the extent that it does not negatively impact TIF's financial status and long-term repair and Capex expenses as well as various factors.

Limitation on Reciving Dividends

TIF will be exempted from its obligation to pay dividends to unitholders after three full years have passed from the date of initial payment of dividends.
No interest will accumulate on any unclaimed dividends .