Toyota to use part of $3.5B buyback to benefit charitable foundation

Toyota (TM) intends to spend ¥360B ($3.5B) on repurchasing up to 60M shares, or 1.89% of the total.

The car-maker will then use half the shares to benefit a charity foundation that it's establishing by selling the stock to Japan Trustee Services Bank for a token sum of ¥1 each. Dividends will be used to finance the foundation.

Toyota will also cancel the other 30M shares.

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Comments (1)
  • june1234
    , contributor
    Comments (4477) | Send Message
    2% fewer shares to spread earnings to and pay dividends on. Works for Toyota. And that $13 trillion in corp debt out there(and thats just in the US) keeps growing and growing
    26 Mar 2014, 07:28 AM Reply Like
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