LG Uplus Corp., a South Korean mobile carrier, said Tuesday it has decided to repurchase 100 billion won ($88.3 million) worth of its own shares to strengthen shareholder value.

The telecom operator said in a regulatory filing that its first-ever share buyback will be completed by June 8 next year.

LG Uplus will also introduce an interim dividend this year in addition to its existing year-end dividend, the company said in a separate statement.

The company expects the moves to stabilize its share price and strengthen its shareholder return policy.

Last month, rival SK Telecom decided to retire 2.6 trillion won worth of treasury shares to boost shareholder value. (Yonhap)