Sony Reduces Planned Dividend

Sony (SNE: 19.91 +0.10%) announced today that they are reducing their dividend by 15%.

 

The March dividend payment will be cut to ¥12.5 per share, down from the forecasted ¥20 per share. For the year, the dividend is reduced from ¥50 per share to ¥42.5 per share.

 

Even with the dividend cut, the company’s dividend payment is still up 70% from last years ¥25 per share.

 

The stock was down 2.2% to $20.01 in late morning trading on the New York Stock Exchange.

 

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