After admitting it faces its first full-year loss this year, Sony (NYSE: SNE) is slashing its annual dividend by 15 percent from 50 yen per share ($0.50) to 42.5 yen per share ($0.43) for the 12 months to March 31. The move won’t go down well with Sony’s shareholders around the world, and it could get worse — these figures are forecasts and the actual final year-end numbers will be decided by the board in May. Release (pdf).
In January, Sony said it expected a full-year loss of 150 million yen ($1.51 million) and lowered its sales forecast 14 percent from 9 trillion yen ($91.17 billion) to 7,700 trillion yen ($78 billion). The company plans to axe 8,000 full-time and 8,000 part-time jobs this year to help save 250 billion yen ($2.53 billion) by 2010.
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