Sony shares leap 12% on buyback and dividend plans, higher profit outlook [Reuters]
Sony Group Corporation American Depositary Shares (SONY)
Company Research
Source: Reuters
TOKYO, May 15 (Reuters) - Shares in Sony Group jumped 12% in early Tokyo trading on Wednesday after the company pledged to boost shareholder returns and forecast higher annual profit with a boost from its image sensors business. The tech and entertainment conglomerate said it would spend up to 250 billion yen ($1.6 billion) on a share buyback and gradually increase dividends with a target of a 40% total payout ratio by the financial year ending March 2027. The payout ratio was 32% last year. All in all, Sony said it will allocate 1.8 trillion yen over the next three years to growth investments and share repurchases. It will also conduct a five-for-one stock split to expand its investor base. Group shares had fallen in recent months with investors concerned about the outlook for the games business and the financial impact of a potential bid for Paramount Global . With Wednesday's gains, however, the shares are roughly flat for the year to date. Sony is rethinking its bid for t
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SONY
Earnings
- 5/15/24 - Beat
SONY
Sec Filings
- 10/11/24 - Form 6-K
- 10/3/24 - Form 6-K
- 9/16/24 - Form F-6EF
- SONY's page on the SEC website