Progress of Shares Buyback
On July 27, 2017, Samsung Electronics Board of Directors (BOD) approved the third phase of the share buyback and cancellation.
It will start on July 28, 2017 and take approximately three months to complete, in which the company will repurchase and cancel 670,000 common shares and 168,000 preferred shares.
Samsung announced in January’s Q4 2016 earnings release that it would implement a share buyback of KRW 9.3 trillion won in 2017.
For the first two phases, Samsung invested approximately KRW 5 trillion and it repurchased and cancelled 1.92 million common shares and 480,000 preferred shares.
The BOD also approved the second quarter dividend of 7,000 won per share for both common and preferred shares.