Sony Corporation has announced that it will cut its planned year-end dividend payout to shareholders following the recent downwards forecast revision.
The year-end dividend is now expected to be JPY 12.5 (13 cents) per share, compared to the previous figure of JPY 20 (20 cents), although this could yet change further pending a final decision by the board in May.
"On January 22, 2009, the Company announced a downward revision of the Company's consolidated results forecast for the fiscal year ending March 31, 2009, in light of the deterioration of the global business environment," read a statement.
"As a result, the Company has decided to reduce the planned amount of the year-end dividend for the fiscal year ending March 31, 2009 to JPY 12.5 per share, the same amount paid in the previous fiscal year, from JPY 20 per share, the originally planned amount."
The annual dividend has also been reduced therefore, from the previously envisaged JPY 50 (51 cents) to JPY 42.5 (43 cents).
The company's share price closed today up slightly at JPY 1991 (USD 20.2).