Sony to spend $1.8 billion on 25 million share buyback in FY2021

Sony will repurchase up to 25 million stocks for up to $1.8 billion in FY2021 in an effort to maximize investment values.

@DeekeTweak
Published Tue, Jul 13 2021 1:33 PM CDT   |   Updated Tue, Aug 10 2021 5:04 AM CDT

Sony Corp has filed a new Form 6-K outlining the progress for its annual share repurchase plan worth $1.8 billion.

Sony to spend .8 billion on 25 million share buyback in FY2021 1 | TweakTown.com
VIEW GALLERY - 3 IMAGES

Sony's board of directors recently approved a buyback of up to 25 million common stock in an effort to help bolster stock value and boost shareholder returns. Sony plans to spend 200 billion yen ($1.8 billion) on stock throughout its Fiscal Year 2021 timeline (April 2021-2022). This marks the second and major repurchase program since 2019, and a recent filing shows the current status of the initiative.

Sony to spend $1.8 billion on 25 million share buyback in FY2021 543 | TweakTown.com

The tech giant repurchased 722,800 common stock in June 2021 for 7.4 billion yen ($66.8 million), which comprises less than 3% of the total share repurchases. Sony currently has a total of 1.28 billion shares issued in both common and treasury stocks.

FY21's share buyback is included in the company's three-year spending plan. The company will spend up to $18 billion on strategic investments across the next three years, which includes acquisitions, technology advancements, and share repurchases.

Sony to spend $1.8 billion on 25 million share buyback in FY2021 634 | TweakTown.com
Buy at Amazon

Ratchet & Clank: Rift Apart Launch Edition - PlayStation 5

TodayYesterday7 days ago30 days ago
$58.78$49.99$68.99
* Prices last scanned on 10/21/2021 at 3:59 am CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.
NEWS SOURCE:sec.gov

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

Newsletter Subscription

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles