Sumitomo Aims to Bolster Shareholder Returns in New Midterm Plan [BNN Bloomberg (Canada)]
Berkshire Hathaway Inc. New (BRK.B)
Last berkshire hathaway inc. new earnings: 11/2 07:00 am
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Source: BNN Bloomberg
Sumitomo will allocate ¥700 billion ($4.5 billion) of returns over the next three years, with a goal of total shareholder return ratio of 40%, the company said Thursday in a filing. It's also aiming for at least 12% return on equity for the fiscal year ending March 2027, and plans to buy back up to ¥50 billion worth of shares. The stock jumped as much as 7.6% after the release. The announcement follows a rally in shares of Sumitomo and its peers, which have benefited from Warren Buffett's Berkshire Hathaway taking a stake in the companies. Activist investor Elliott Management Corp. is also said to have built a “large” stake, adding to pressure to boost shareholder returns. Read more: Elliott Said to Have Large Stake in Buffett-Favored Sumitomo Buffett said in his February letter to investors that the companies follow shareholder-friendly policies that are “superior” to those practiced in the US. ©2024 Bloomberg L.P.
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BRK.B
Earnings
- 5/4/24 - Beat
BRK.B
Sec Filings
- 5/15/24 - Form 13F-HR/A
- 5/15/24 - Form 13F-HR/A
- 5/15/24 - Form 13F-HR
- BRK.B's page on the SEC website