trending Market Intelligence /marketintelligence/en/news-insights/trending/IFvy-yPsFuhJHL0479XaZQ2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

Samsung plans share buyback as earnings jump


Climate Credit Analytics: Linking climate scenarios to financial impacts


What’s next in Cloud?

Fintech Intelligence Digital Newsletter: April 2021


TMT Digital Newsletter: April 2021

Samsung plans share buyback as earnings jump

Samsung Electronics Co. Ltd. plans a share buyback worth 9.3 trillion South Korean won following a strong earnings report for the fourth quarter of 2016, The Korea Herald reported Jan. 24.

The Samsung Group unit reported 7.1 trillion won in net income for the quarter, more than double the 3.2 trillion won posted for the last three months of 2015.

The buyback amount is reportedly the total remaining from shareholders' return resources in 2015 and 2016. The company plans to repurchase the shares and then cancel them in three to four phases.

Samsung Electronics also said it would offer shareholders 3.8 trillion won in year-end dividends, according to the report. The plan has been approved by the company's board of directors.

As of Jan. 24, US$1 was equivalent to 1,164.19 South Korean won.