(LEAD) SK hynix announces 40 tln won share buyback to boost shareholder returns
SEOUL, Aug. 19 (Yonhap) -- SK hynix Inc. said Wednesday it will buy back 24.07 m...
SK hynix, a leading memory chipmaker in South Korea, has announced plans to buy back 24.07 million common shares worth 40.43 trillion won ($28.82 billion) to boost shareholder returns. The significant share buyback, which aims to enhance shareholder value, will take place from Thursday to November 19, after which all shares will be cancelled.
The company's decision comes after determining that its stock is undervalued relative to its intrinsic value. SK hynix plans to spend at least 50% of its free cash flow generated between 2025 and 2027 on shareholder returns, marking an early implementation of its shareholder return policy. This move represents the largest cancellation of treasury stocks among listed companies in South Korea.
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