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Samsung to announce 3-year buyback plan in the coming days
Samsung is set to announce its third-quarter profit and plans for cash dividends for 2018-2020.
Reports coming out of Korea note that Samsung the consumer electronics giant is now preparing to announce a three-year plan to buy back shares next week. The initiative is expected to be the largest and it will be backed by the tech giant's thriving chip business.
Basically, the new buyback scheme will be the extension of the $10 billion buyback program that Samsung launched in 2015. It had a good impact on the company's price per share. Korea Herald reports that the tech giant will also be announcing its third-quarter profit and plans for cash dividends for 2018-2020.
However tracing back last years results, the firm has announced that it will spend 50 percent of its 22.4 trillion won ($19 billion) net profit to increase its share value and return the benefits to its investors. Samsung did pay out nearly 4 trillion won ($3.5 billion) worth of cash dividends and bought 7.2 trillion won ($6.3 billion) worth of shares back.
When Samsung reveals its three-year plan next week, alongside details surrounding its third-quarter profit and plans for cash dividends for 2018-2020, it's expected to be on a much larger scale, in accordance with its record profit for 2017. Many market analysts further expect that the South Korean conglomerate will report more than 40 trillion won ($35 billion) in net profit, and more than 50 trillion won next year and in 2019.
As for the first half of this year, Samsung has returned 6 trillion won of dividends and buy-back drive. The company is looking to spend some 13 trillion won more in the second half to keep the ratio as same as last year.
Meanwhile, Samsung expects a record-breaking third-quarter operating profit of 14.5 trillion won between July and Sept. The company will basically submit its report on Oct. 31.
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99,999
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1,29,999
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69,999
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41,999
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64,999
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99,999
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29,999
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63,999
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39,999
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1,56,900
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79,900
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1,39,900
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1,29,900
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65,900
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1,56,900
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1,30,990
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76,990
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16,499
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30,700
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12,999
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1,15,909
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93,635
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75,804
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9,999
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11,999
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3,999
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2,500
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3,599
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8,893
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13,999