Toyota Plans $826 Million Buyback With Shares Trending Down
- Company taking stock price into account, being ‘more flexible’
- Carmaker hit by production disruptions in recent months
Toyota’s shares closed in Tokyo on Wednesday nearly 12% off their record close in January.
Photographer: Toru Hanai/BloombergThis article is for subscribers only.
Toyota Motor Corp. announced a 100 billion yen ($826 million) stock buyback Wednesday, delivering on a promise to flexibly repurchase shares and pay out stable dividends to shareholders.
With Toyota shares trading more than 10% off recent highs, the Japanese automaker said it was taking the current stock price into account and being “more flexible” than ever in its implementation of buybacks, according to a statement to the Tokyo Stock Exchange.