TOKYO (dpa-AFX) - Sumitomo Mitsui Trust Group, Inc. (8309.T), a Japanese banking company, Thursday announced that it is revising its earnings forecast upwards for the fiscal 2025.
It is now expecting earnings to be 317 billion yen or 451 yen per share compared to the previous outlook of 295 billion yen or 418.49 yen per share.
The banking company cited gains on stocks associated with progress in reducing strategic shareholdings as the reason behind the upward revision.
Further, Sumitomo also increased its dividend guidance. It now expects year-end dividend to be 105 yen per share and annual dividend to be 185 yen per share. Previously it surmised the year end dividend to be 90 yen per share and annual dividend to be 170 yen per share.
On Thursday, 8309.T shares closed at 5,178 yen, down 2.60% on the Tokyo Stock Exchange
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