Samsung Electronics (SSNLF, Financials) will cancel 3.05 trillion won ($2.11 billion) worth of its own previously acquired stock, according to a regulatory filing.
The action fits into a larger initiative to raise shareholder value and increase financial flexibility.
Between Feb. 19 and May 16, the South Korean technology business also intends to buy 2.7 trillion won worth of common stock and 304 billion worth of other shares. After its price trailed behind rival SK hynix, the buyback follows a promise made in November 2024 to repurchase 10 trillion won worth of shares over the following year. The November proposal was Samsung's first stock buyback since 2017.
Apart from the financial steps, Samsung assigned two top executives from its semiconductor segment to serve on its board. Proposed board members include Jun Young-hyun, head of its chip division, and Song Jai-hyuk, Chief Technology Officer of the corporation. The corporation also proposed Lee Hyuk-jae as an outside board director, head of the semiconductor research center at Seoul National University.
The nominees demonstrate Samsung's deliberate focus on enhancing its semiconductor supremacy. The suggestions will be put to shareholders at the annual general meeting of the firm set for March 19.
This article first appeared on GuruFocus.免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。