Samsung Electronics BOD Approves Fourth Phase of Share Repurchase and Third Quarter Dividend
Progress of Shares Buyback
On October 31, 2017, Samsung Electronics Board of Directors (BOD) approved the fourth and final phase of the share buyback and cancellation.
The final phase will start on November 1, 2017 and take approximately three months to complete, in which the company will repurchase and cancel 712,000 common shares and 178,000 preferred shares.
Samsung announced in January that it would implement a share buyback of KRW 9.3 trillion won in 2017. With the expected conclusion of the fourth phase, the company’s share buyback and cancellation of 2017 will be completed.
For the first three phases, Samsung has invested approximately KRW 7 trillion. It repurchased and cancelled 1.02 million common shares and 255,000 preferred shares in the first phase; 900,000 common shares and 225,000 preferred shares in the second phase; and 670,000 common shares and 168,000 preferred shares in the third phase. In sum, it is 2.59 million common shares and 648,000 preferred shares that have been repurchased and cancelled in the first three phases.
The BOD also approved the third quarter dividend of KRW 7,000 per share for both common and preferred.