SK Hynix to announce steps to boost shareholder returns on Wednesday
SEOUL: SK Hynix said it will announce shareholder return measures on Wednesday when the South Korean chipmaker releases quarterly results, responding to a report that it is considering a special dividend of about 16 trillion won ($12 billion). South Korean newspaper Dong-A Ilbo reported on Monday that SK Hynix is considering the special dividend, which will be funded by gains from selling its…
SK Hynix, the South Korean chipmaker, plans to reveal shareholder return measures on Wednesday, alongside its quarterly results, according to a report by the Dong-A Ilbo. The company is considering a special dividend of approximately 16 trillion won ($12 billion), which would be funded by profits from selling its stake in Japanese memory chipmaker Kioxia.
SK Hynix invested around 4 trillion won in Kioxia in 2018 through a consortium of investors from the US, Japan, and South Korea. The company has not disclosed the specifics of the stake sale. When asked about the report, SK Hynix stated that it is reviewing various shareholder return measures and plans to announce them with its third-quarter earnings on Wednesday.
The pressure on SK Hynix and its rival Samsung Electronics to return more of their excess cash to shareholders has increased following record profits driven by demand for AI memory chips.
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- SK Hynix to announce shareholder return plans on Wednesday; shares rise up to 3% businesstimes.com.sg
- SK Hynix to announce steps to boost shareholder returns on Wednesday channelnewsasia.com
