Samsung Electronics Stock Rises 4% on $72 Billion Shareholder Return Plan

TLDR

• Samsung stock rose up to 3.9% on Friday ahead of a board meeting to approve a major shareholder return package
• The plan is reported to be worth over 100 trillion won ($72 billion), primarily through special cash dividends
• The package would allocate 50% of Samsung’s free cash flow to shareholders
• Rival SK Hynix announced a 40 trillion won ($28.6 billion) buyback earlier this week, adding pressure on Samsung to act
• KB Securities said Samsung could reach the 300,000 won price level on the back of earnings growth and the expected special dividend

Samsung Electronics stock climbed as much as 3.9% to ₩279,500 on Friday, as investors positioned ahead of a board meeting expected to formally approve one of the largest shareholder return packages in South Korean corporate history.

Samsung Electronics Co., Ltd., SMSD.L

Reports from multiple outlets put the plan’s value at over 100 trillion won, or roughly $72 billion. The package is structured mainly around special cash dividends, with 50% of the company’s free cash flow earmarked for shareholders.

… Continue reading the full article at the original source below.