Just In
- 10 hrs ago Quordle 781 Answer for Today, March 15: Check Clues, Solutions
- 11 hrs ago Wordle 1000 Answer for Today, March 15: Check Clues, Solution
- 11 hrs ago HONOR Pad 9 India Launch Confirmed; To Go on Sale via Amazon
- 13 hrs ago Google Chrome’s Safe Browsing Just Got a Major Upgrade! Real-Time URL Protection Explained
Don't Miss
- Sports Yesterday PSL Match Result: Islamabad United vs Quetta Gladiators Eliminator 1 Match Score On March 15
- Lifestyle Ramadan 2024: Why Is Taraweeh Prayer So Special? Can You Offer Taraweeh Prayers At Home?
- Movies CCL 2024 Qualifier 2 Team Names: Bengal Tigers Vs Mumbai Heroes In Celebrity Cricket League 2024
- News Haryana Announces 4% DA Hike For Government Employees, Pensioners
- Automobiles How to Take Care of Your Car in the Summer | A Simple Guide
- Finance 1:10 Split, 3 Bonus, 50 Dividends: Defence Navratna PSU Stock To Pay New Rewards; 3 Brokerages Recommend BUY
- Education WBP Constable Recruitment 2024; Apply for 10255 Vacancies, Check out for more details
- Travel Want to Enjoy IPL Live? Explore Spectacular Cities, Venues and Dates of IPL 2024
Samsung to drop treasury shareholdings
The decision is taken because Samsung doesn't need to hold treasury shares anymore.
Today, Samsung Electronics announced that the company's Board of Directors has planned to cancel the current treasury shares held by the company.
Previously, Samsung had retained the treasury shares to utilize it as a financial resource when need the time demanded it. For instance, for M&A transactions and securing talented professionals. Now, thanks to the company's strong balance sheet and increased cash holdings, Samsung apparently doesn't need to hold treasury shares anymore. The current market value of treasury is more than 40 trillion won.
Buy Samsung Galaxy On5 Pro, Galaxy On7 Pro at discount on Amazon
Samsung will cancel the shares in two stages so it doesn't affect the financial market much. In the first stage, it will cancel 50 percent of the shares, and the rest of the holdings will be cancelled after the Board gives approval next year.
This decision also shows that the Korean company plans to enhance sustainable long-term value for shareholders.
Besides this, Samsung Electronics has also posted its financial report for Q1 2017, revealing some good numbers. According to the report, the company has earned a profit of KRW 50.55 trillion ($8.7 billion) across all of its businesses.
However, revenues earned from its smartphone division have fallen compared to those in Q4 2016 due to a decrease in sales of flagship devices.
Anyway, the Q1 2017 still was the second-best quarter for Samsung ever, profit-wise. The main reason behind it is the increased sales in the semiconductor and display departments.
The company also is expecting to generate more profit from the recently launched Galaxy S8 and Galaxy S8 Plus.
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
1,39,900
-
1,29,900
-
79,900
-
65,900
-
12,999
-
96,949
-
16,499
-
38,999
-
49,999
-
30,700
-
24,999
-
19,999
-
17,970
-
21,999
-
13,474
-
18,999
-
22,999
-
19,999
-
17,999
-
26,999