Honda suspends share buybacks temporarily to preserve funds

Article by Christian A., on May 31, 2011

Honda Motor Co. is temporarily suspending its share buybacks in order to preserve its funds after the March 11 earthquake and tsunami in Japan.

The company disclosed that it is targeting an annual shareholder return of approximately 30 percent, and its planned dividend of 54 yen per share as well as share buybacks made in 2010 would bring this return to slightly more than 20 percent for the year ended in March.

The company had been expected to carry out additional share repurchases in order to hit its target.

However, the company has decided to halt this plan because of the need for cash in order to repair facilities that have been damaged by the March disaster, a company spokeswoman disclosed.

On another note, the company stated on Friday that the personal information of at least 283,000 customers at Honda Canada has been breached recently.

The Canadian company disclosed that the stolen data included names and addresses as well as vehicle identification numbers. Furthermore, some of these include financing account numbers.

The company said that these data aren’t those that would be typically utilized for fraud or identity theft. These were the information collected in 2009 for a series of customer mail programs that invite Acura and Honda owners to sign up at the myAcura and myHonda websites.

Topics: honda

If you liked the article, share on:

Comments

Recommended

Mazda seems too far ahead in Safety technology for having four of its vehicles chosen as the safest on the road. Very recently, the Insurance Institute for Highway Safety has...
by - June 22, 2017
The automotive world is intensely competitive given the growing number of players, but the British car manufacturer is adamantly holding on to its spot. The 2018 Jaguar XF Sportbrake, priced...
by - June 22, 2017
Audi’s all-electric supercar, the R8 e-tron, had been discontinued last October after being in the market for under two years. The electric vehicle was then exclusive to the European market...
by - June 22, 2017
Dodge has made it clear to everyone, including its potential buyers, that the Challenger SRT Demon is a street-legal drag car - that it is unlike any of your ordinary...
by - June 22, 2017
After a number of failed attempts, Tesla finally gets an Arizona dealership license by winning a court battle that allows them to sell directly to consumers. The automotive dealer license...
by - June 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries