As finances show stability SoftBank Group restarts dividend
November 23, 2020
Finance

As finances show stability SoftBank Group restarts dividend

TOKYO (JAPAN) – In the wake of massive asset sales stabilising SoftBank Group Corp’s finances, the financial institution said on Friday it would pay an interim dividend of 22 yen per share, which is the same as the last fiscal.

The group was shaken by investments gone sour and the pandemic. However, the dividend declaration shows that the group is regaining its confidence after being buoyed by deals. They include the $40 billion (31 billion pounds) sale of its chip designer Arm to Nvidia Corp.

SoftBank’s year-end dividend forecast has not been determined yet and it did not offer such a thing in May when it reported a record annual operating loss.

The group also said it has completed the sale of US cellphone distributor Brightstar as it severs ties with the telecoms sector to focus more on investing.

With asset sales going up, it has stoked speculation about how the group might use its mounting cash pile. CEO Masayoshi Son told a Saudi Arabian conference on Thursday that he is a “risk taker.”

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