[THE INVESTOR] Samsung Electronics
said on Sept. 28 it has completed an 11.3 trillion won (US$10 billion) share buyback program that was launched in October as part of its shareholder-friendly policies.
The Korean tech giant said its four share repurchases and the cancellations have elevated the company’s stock price almost 20 percent over the past year.
Samsung Electronics Vice Chairman Lee Jae-yong
As of Sept. 26, Samsung shares traded at 1,568,000 won, which compared to 1,308,000 won on Oct. 28 last year.
“The share repurchase program has supported the stock price at a tough time while offering a boost when the market is upbeat,” the company said in a statement.
The company added return on equity, earnings per share and other overall corporate values have improved during the period.
By Lee Ji-yoon (email@example.com