Samsung Electronics Co Ltd005930
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Samsung plans a 90 trillion won share buyback, a direct capital return to shareholders.
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Samsung Electronics Co LtdSamsung Electronics plans a share buyback programme worth 90 trillion won, equivalent to 58.61 billion dollars, according to a Yonhap News Agency report. The plan follows recent wage talks in which management and the union agreed to a pay deal that includes special bonuses in the form of stock for the chip division, with Samsung expected to set aside about 10.5% of its operating profit for these bonuses. Yonhap cited unidentified industry sources and said the company will soon announce details of the buyback. The bonus programme is estimated to cost Samsung 154 trillion won, including 40% in taxes, and employees will be able to immediately sell one-third of the treasury shares they receive, with the remaining two-thirds subject to one-year and two-year holding periods.
Samsung Electronics Co LtdSamsung plans a 90 trillion won share buyback, a direct capital return to shareholders.