Samsung Electronics plans $7.2 billion buyback to boost shareholder value

Shares of Samsung Electronics rose 7.2% on Friday, posting the biggest daily jump since March 2024

Reuters

November 15, 2024 / 15:35 IST

Samsung Electronics

Samsung Electronics plans to buy back shares worth 10 trillion won ($7.17 billion) over a one-year period to boost shareholder value, it said in a regulatory filing submitted after the market closed on Friday.

Shares of Samsung Electronics rose 7.2% on Friday, posting the biggest daily jump since March 2024 and rebounding from their lowest level since mid-June 2020. They were still down 32% year to-date.

Reuters

first published: Nov 15, 2024 03:35 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347