Dividend.com: Toyota Stalls Out

Toyota Reports $7.7 Billion Quarterly Loss, Slashes Dividend 29%

Japanese automaker Toyota(TM Quote) said Friday that it lost a massive $7.7 billion in the latest quarter, which sent the company to its worst yearly loss in its 77-year history.

The Tokyo-based company reported a fiscal fourth quarter loss of $7.7 billion, compared to a net profit of $316.8 million in the year-ago period. Analysts had expected a slightly smaller quarterly loss.

For full-year 2009 the company said it lost 437 billion yen or $4.4 billion on net revenue of 20.53 trillion yen. Back in fiscal 2008, the company saw a net profit of 1.72 trillion yen on revenue of 26.29 trillion yen. On average, Wall Street analysts had expected a much smaller full-year loss of 350 billion yen. ...