이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Samsung Elec to announce new incentive program for shareholders next month
- Collected
- 2016.10.28
- Distributed
- 2016.10.31
- Source
- Go Direct
“We are working on new reward program for our shareholders including the idea of extending buyback and cancellation,” said Lee Myung-jin, executive director of Samsung Electronics’ Investor Relations division in a conference call Thursday after releasing disappointing third-quarter earnings that reflected the cost of recall, refund, and losses from discontinuation of short-lived Galaxy Note7.
The country’s top electronics company and bellwether stock implemented 11.3 trillion won ($9.9 billion) buyback program from October last year and completed cancellation by September, helping to boost the stock prices.
U.S. activist fund Elliot Management, owning a 0.62 percent stake in the electronics giant, last month proposed Samsung Electronics to dig into its rich cash hoard of $70 billion to carry out one-time special dividend payout worth $27 billion for a momentum to strengthen investors’ confidence in the company.
Elliott’s suggestion is also being studied by the board and management, said one company official.
The world’s largest smartphone maker is now at a critical moment, reeling from failure of fire-prone Galaxy Note 7. Its vice chairman Jay Y. Lee, apparent heir to Samsung Group, became a registered board member in an extraordinary shareholders’ meeting on Thursday.
Samsung Electronics shares closed Thursday at 1,573,000 won, up 0.38 percent or 6,000 won from the previous session.
By Lee Dong-in
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]