Samsung Electronics Co Ltd has announced a plan to repurchase shares amounting to 10 trillion Korean won. This buyback initiative will unfold over a span of 12 months, targeting an enhancement in shareholder value.
In the immediate phase, over the forthcoming three months, Samsung will undertake a buyback of shares worth 3 trillion Korean won. This segment of the buyback, scheduled between November 18 and February 17, 2025, will involve the cancellation of all repurchased shares, comprising 50.14 million common shares and 6.91 million preferred shares.
For the remaining 7 trillion Korean won, the Board of Directors will provide authorization and determine a strategic approach to maximize shareholder returns, which may include decisions on employing the treasury shares.