Samsung, SK Hynix signal stronger shareholder returns

Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST

Aug 5 : Samsung Electronics is exploring ways to enhance shareholder returns in a "sustainable manner," the South Korean company said in a statement to Reuters on Wednesday, adding that it expects to share details "very soon."

"While we remain focused on maintaining a healthy balance sheet to manage cyclical risks and fund growth initiatives, we are also exploring ways to enhance shareholder returns in a sustainable manner," the statement said.

Its cross-town rival SK Hynix also said in a separate statement to Reuters that the company is preparing concrete shareholder return plans by the end of the year and expects to "meaningfully expand shareholder returns."

"Based on record-high cash generation capabilities, the company believes that it can meaningfully expand shareholder returns, while maintaining investments and financial soundness," SK Hynix said, adding it is "reviewing various options for additional shareholder returns."

Last week, the two companies reported record-smashing quarterly profits on AI-driven demand for memory chips.

Newsletter

Week in Review

Subscribe to our Chief Editor’s Week in Review

Our chief editor shares analysis and picks of the week's biggest news every Saturday.

Sign up for our newsletters

Get our pick of top stories and thought-provoking articles in your inbox

Subscribe here

Get the CNA app

Stay updated with notifications for breaking news and our best stories

Download here

Get WhatsApp alerts

Join our channel for the top reads for the day on your preferred chat app

Join here