Samsung Electronics plans to hold a board meeting on Friday afternoon to discuss a new shareholder return package, a person familiar with the matter told Reuters, after media reports said the plan could be worth more than US$70 billion (HK$546 billion).
The source did not give details, but said it could be a significant amount and the meeting could take place after the market closes.
Its shares rose as much as 3.69 percent to 281,000 won (HK$1,596.4) in early trading.
A Samsung Electronics spokesperson declined to comment.
South Korea's MoneyToday reported on Thursday that the company is set to announce a new shareholder return policy later this month worth more than 100 trillion won.
Samsung Electronics, the world's top memory chipmaker and rival SK Hynix, have been under growing investor pressure to return more of their AI-driven cash gains to shareholders through dividends and buybacks after their record-high profits failed to ease investor jitters about AI spending.
SK Hynix said on Wednesday it will buy back and cancel 40 trillion won of treasury shares and allocate more than 50 percent of free cash flow generated between 2025 and 2027 to boost shareholder returns.
Reuters
