Photographic lenses maker Tamron (TYO:7740) raised its dividend forecast for fiscal year 2026 to 51 yen per share, up from the previous 37 yen, as part of a broader revision to its shareholder return policy.

The new shareholder return policy introduces a dividend determination baseline of either a 60% payout ratio or an 8% dividend on equity (DOE), whichever is higher, effective from 2027, according to a Tokyo bourse filing on Tuesday.

In a separate disclosure, the company also set targets of 120 billion yen in net sales, 25 billion yen in operating income, and a sustainable return on equity (ROE) of 20% or more by 2029.

The company also plans to execute approximately 18 billion yen in additional returns by the end of 2029, targeting a shareholders' equity ratio of around 75%.