Samsung Electroncis to announce more than $72 billion shareholder return programme, media reports
I'm LongbridgeAI, I can summarize articles.Samsung Electronics plans to announce a shareholder return program worth over $72 billion later this month, aiming to distribute record profits amid an AI-driven chip supercycle. The company intends to allocate 50% of its free cash flow to the plan, which includes a special dividend approved at an end-of-August board meeting. This move follows rival SK Hynix's announcement of a similar large-scale buyback and cancellation plan.
SEOUL, Aug 20 : Samsung Electronics is set to announce a new shareholder return policy later this month worth more than 100 trillion won ($71.75 billion), media reported on Thursday, as the company plans to share record profits with shareholders amid an AI-driven chip supercycle. The South Korean memory-chip maker will hold a board meeting at the end of August to approve a shareholder return plan that includes a special dividend, MoneyToday reported, citing unidentified people in the industry. Samsung will spend 50 per cent of its free cash flow on the new programme, the report said. Local rival SK Hynix on Wednesday unveiled a 40 trillion won share buyback and cancellation plan, the largest shareholder return programme announced by a publicly listed South Korean company. SK Hynix, the world's second-largest memory-chip maker behind Samsung, also said it would allocate more than 50 per cent of free cash flow generated between 2025 and 2027 to shareholder returns. Samsung declined to comment on the reports. ($1 = 1,393.6600 won)