Home › Home ›

Sony Corp. Cuts Dividend Forecast 15%

Submitted by Ted Gottsegen on Wed, 03/18/2009 - 12:47.
in
Sony Corp.

Sony Corp. (NYSE:SNE) today slashed their annual dividend 15% or 7 Cents USD, shares are now at $20.

The move won't go down well with Sony's shareholders around the world, and it could get worse? Sony figures are forecasts and the actual final year-end numbers will be decided by the board in May. Release (pdf).

In January, Sony said it expected a full-year loss of $1.51 million and lowered its sales forecast 14 percent from $91.17 billion to $78 billion. The company plans to axe 8,000 full-time and 8,000 part-time jobs this year to help save $2.53 billion by 2010.

Sony shares are down 1.4% today to $20.15, the 52-week range for SNE is $15 ti $52.

SOURCE: http://www.washingtonpost.com/wp-dyn/content/article/2009/03/18/AR2009031801452.html

WallStNation.comThanks for visiting WallStNation.com, to assist your investing research try using our Search (click to access) or review the list of Tickers (click to access) that link directly to articles related to the given stock/security.

To Browse our Most Recent Stories (click here)


Share WallStNation.com Content

Share this article with others, WallStNation.com is the Independent Wall Street Newspaper. Thanks for Reading!

Daily Market Summary


Please Review the WallStNation.com Disclaimer and remember that information provided by our site is at the investor's sole financial risk. Please Review for more Details