Japanese conglomerate SoftBank Group Corp announced a stock split while keeping ...
TOKYO - Japanese conglomerate SoftBank Group Corp announced a stock split while keeping the per-share dividend unchanged for the year, effectively doubling its shareholder payout, as it also reported a better-than-expected annual profit.
The tech and telecoms group’s operating profit for the year ended March rose 80.5 percent to 2.4 trillion yen , driven by higher valuations of its tech investments. SoftBank is also considering listing the Saudi-backed Vision Fund, which has invested roughly $80 billion in around 80 tech firms, a source told Reuters last week.
That provided the funds for a share buyback that has helped drive up SoftBank Group’s stock by nearly 60 percent this year. The shares closed up 0.7 percent ahead of the earnings.
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