SK Hynix unveils 40 trillion won buyback and cancelation plan
SK Hynix, the South Korean chipmaker, just announced a 40 trillion won ($28.61 billion) share buyback and cancelation plan.
This comes after investors pushed for bigger cash payouts as the company raked in record profits from AI memory chips.
SK Hynix also says it will return over half its free cash flow from 2025 to 2027 through more buybacks, cancelations, and dividends.
SK Hynix eyes special dividends
After hitting record highs in June thanks to AI hype, SK Hynix shares have dipped as people wonder if the boom can last.
Still, the company feels good about its finances, sitting on around 69 trillion won in net cash, and is thinking about bumping up shareholder returns even more.
Special dividends might be coming soon, with details expected in their Q3 earnings update this October.