Toshiba to buy back 6% of shares, pay special dividend

[TOKYO] Toshiba Corp said on Monday it will buy back up to 6 per cent of its outstanding shares worth around 100 billion yen (S$1.21 billion), in line with its plans to boost shareholder returns.

The Japanese industrial conglomerate will also allocate about 50 billion yen to pay a special dividend as "some shareholders, mainly retail shareholders, prefer dividends", it said in a statement.

Toshiba, which has been under pressure from activist shareholders, last month promised to return to shareholders a surplus of 150 billion yen against the appropriate shareholder equity level.

REUTERS