On July 28, 2016 - Samsung Electronics announced the fourth and final phase of its share buyback program, amounting to KRW 1.8 trillion, which will take approximately three months to complete beginning tomorrow.
The Board of Directors approved the fourth phase of the buyback program today, through which Samsung will cancel 990 thousand common shares and 230 thousand preferred shares. At this pace, Samsung expects to complete the planned KRW 11.3 trillion buyback in the early fourth quarter.
Last October, Samsung announced a special shareholder return initiative program including shareholder buybacks and cancellation of KRW 11.3 trillion, which is equivalent to USD 10 billion and completed the third phase this month.
Samsung invested approximately KRW 9.5 trillion won during the three phases, and was able to repurchase and cancel 5.63 million common shares and 2.09 million preferred shares.
