Going up now cuz of this
SK Hynix to Buy Back KRW 40 Trillion Worth of Its Own Shares and Cancel All of Them
SK Hynix has decided to repurchase KRW 40 trillion worth of its own shares and cancel all of the repurchased shares, making it the largest share buyback program in the history of a Korean-listed company.
Starting August 20, the company plans to repurchase approximately 24.07 million shares, equivalent to 3.3% of its total outstanding shares, over a period of about three months.
SK Hynix believes that its current share price does not fully reflect the company’s intrinsic value, considering its strong cash-generating ability and business competitiveness.
The company also plans to increase its shareholder-return target from “within 50%” to “above 50%” of cumulative free cash flow (FCF) for 2025–2027.
In addition to share buybacks and cancellations, SK Hynix plans to continue cash dividends and is considering increasing both its regular dividend and special dividend.
This is a pretty significant bullish development for SK Hynix shareholders.