US$80b buyback: Samsung goes big to win back investors
SEOUL Aug 21 — South Korean chip giant Samsung Electronics said Friday it would buy back up to US$80 billion (RM32...
Samsung Electronics announced on August 21 its intention to buy back up to US$80 billion of its own shares, the largest such plan in the country. This move aims to boost shareholder returns and ensure the company's growth benefits shareholders, according to the company's statement. The announcement follows SK hynix's US$28.9 billion share buyback on Wednesday, which sent SK hynix's stock up 12% the following day.
Samsung, the global leader in memory chips, approved the shareholder return plan for 2026 during a board meeting on Friday. The company plans to implement a cash dividend of approximately 30 trillion won in the third quarter, with further details to be finalized at a board meeting in late October. Samsung's shares peaked at 370,000 won in mid-June, driven by optimism over the artificial intelligence boom, but have since fallen amid investor jitters and a broader tech rout.
The company's shares closed up 3.9% on Friday following the share buyback announcement, as investors anticipated the significant shareholder return.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
