SK hynix pledges to return $75 bil. to shareholders

SK hynix on Wednesday announced a 100 trillion won ($75 billion) shareholder return plan for this year, in order to address the mismatch between its sluggish share price and record-breaking earnings performance. During its third-quarter earnings call, the company said it plans to return 100 trillion won to shareholders, including at least 30 trillion won in cash dividends and more than 60 trillion won through share buybacks and cancellations. “We believe our shares are undervalued, as their current price does not fully reflect the profits and cash flow the company is generating," the company said. "Under these circumstances, we believe repurchasing and canceling our shares is an effective way to increase value per share." "We plan to continue repurchasing shares every quarter within our annual buyback plan," it added. "The board will determine the size of quarterly repurchases after considering share prices, valuations and cash flow." The plan includes the recently completed 40 trillion won share buyback program, with the repurchased shares scheduled to be canceled soon. At a board meet