Osaka Gas raises dividend forecast, boosts shareholder returns

Osaka Gas has announced a revised dividend forecast for the fiscal year ending March 31, 2026 (FY2026.3), increasing its interim dividend to JPY 60.0 per share (from JPY 52.5) and its annual dividend to JPY 120.0 per share (from JPY 105.0). This upward revision of JPY 15.0 per share reflects strong performance in FY2024.3 and the second quarter of FY2025.3, with projected continued profit growth. The company also raised its target Dividend on Equity (DOE) from 3.0% to 3.5%, effective with the FY2026.3 interim dividend.

This decision aligns with Osaka Gas’s "Daigas Group Medium-Term Management Plan 2026," which prioritizes stable dividend payments and flexible shareholder return measures. The company's consolidated ordinary profit for the six months ended September 30, 2025, increased by JPY 33.5 bn year-on-year to JPY 105.4 bn, primarily due to increased time-lag profit in the Domestic Energy segment and profit growth in the International Energy segment, including contributions from Freeport LNG and Sabine in the U.S.

The revised forecast anticipates an ordinary profit of JPY 186.0 bn for FY2026.3, an increase of JPY 21.0 bn from the previous forecast. This improvement is largely attributed to higher time-lag gains and robust international energy operations. Osaka Gas also continues its share buyback program of up to JPY 70 bn, initially announced in May 2025, to further manage shareholder equity.