Samsung Electronics BOD Approves Second Phase of Share Repurchase and First Quarter Dividend
Progress of Shares Buyback
On April 27, 2017, Samsung Electronics Board of Directors (BOD) approved the second phase of the share buyback and cancellation.
It will start on April 28, 2017 and take approximately three months to complete, in which the company will repurchase and cancel 900,000 (nine hundred thousand) common shares and 225,000 (two hundred and twenty-five thousand) preferred shares.
Samsung announced in January’s Q4 2016 earnings release that it would implement a share buyback of KRW 9.3 trillion won in 2017.
The first phase was completed on April 12, 2017. Samsung invested approximately KRW 2.45 trillion and it repurchased and cancelled 1.02 million common shares and 255,000 preferred shares.
Quarterly Dividends
The BOD also approved the first quarter dividend of 7,000 won per share for both common and preferred. The quarterly dividend payment will enable Samsung to provide more evenly distributed dividends to our shareholders throughout the year.
