Samsung (SSNLF) Electronics announced Friday it plans to buy back a total of KRW 10T in the company’s shares to enhance shareholder value. The company’s Board of Directors authorized the share repurchase program that will be carried out in phases over the next 12 months. In the next three months, KRW 3T in stock will be repurchased and all of the shares will be canceled. This buyback will begin from Nov. 18 to Feb. 17, 2025 and will comprise of 50.14M common shares and 6.91M preferred shares. The remaining KRW 7T in the repurchase program will be authorized accordingly by the Board, which will decide on ways to enhance shareholder value, including when and how to use the treasury shares.
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