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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Samsung Electronics announced on March 31 that it will cancel treasury shares worth approximately KRW 14.6 trillion, as part of its shareholder return strategy aimed at enhancing per-share value.
The company disclosed that it will cancel 73,359,314 common shares and 13,603,461 preferred shares, with a total value of KRW 14.58 trillion based on the previous day’s closing prices of KRW 176,300 for common stock and KRW 121,100 for preferred stock. The cancellation is scheduled for April 2.
The shares to be canceled were acquired in February and July of last year. In November 2024, Samsung Electronics announced a KRW 10 trillion share buyback and cancellation program to enhance shareholder value. The company subsequently purchased treasury shares worth KRW 6 trillion in two phases and canceled a portion of them, followed by an additional KRW 4 trillion buyback in July.
Samsung Electronics stated that the cancellation will be executed within the scope of distributable profits, meaning there will be no reduction in its stated capital.
The move is expected to reduce the total number of outstanding shares, thereby increasing earnings per share and strengthening shareholder returns.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
