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Toyota Motor Plans to Repurchase up to $2.3 Billion of Shares

05/12/2021 02:53

06:39 AM EDT, 05/12/2021 (MT Newswires) -- Toyota Motor (TM) on Wednesday unveiled a plan to buy back shares for up to 250 billion yen ($2.30 billion) in a "flexible manner," taking into account factors such as liquidity and investment in growth.

The company also said that effective Oct. 1, it will split its common stock in a ratio of 5-for-1 to make it "easier" for investors to invest in Toyota's shares by lowering the minimum investment price, according to a fiscal 2021 earnings statement Wednesday.

The firm reported 27.2 trillion yen of revenue in the full financial year. The consensus estimate of analysts polled by Capital IQ was for revenue of 26.8 trillion yen.

The company also said that it plans to make a 135 yen per share year-end dividend, bringing the total payout for fiscal 2021 to 240 yen per share.

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