SK Hynix plans to buy back 40 trillion won, or about $28.6 billion, of its shares and cancel them after repurchase to improve shareholder returns, according to a report cited by PANews from Caixin. The company also said it will allocate at least 50% of free cash flow to shareholder returns from 2025 through 2027 and is considering a larger payout through fixed and special dividends. Shares moved sharply in after-hours U.S. trading, rising more than 1% after earlier falling more than 3%.
SK Hynix outlines a 40 trillion won buyback
SK Hynix plans to repurchase 40 trillion won, or about $28.6 billion, of its shares and cancel them after the buyback, according to a report cited by PANews from Caixin.
The company said the move is aimed at improving shareholder returns.
SK Hynix also said it will return at least 50% of free cash flow to shareholders between 2025 and 2027.
It is also considering expanding payouts through fixed dividends and special dividends.
Shares jump in U.S. after-hours trading
Following the announcement, SK Hynix rose sharply in U.S. after-hours trading, up more than 1% after falling more than 3% earlier in the session.
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