by Lee Seunghyeong
Published 01 Feb.2024 11:08(KST)
Updated 01 Feb.2024 11:10(KST)
Samsung C&T's stock price is showing strength. It appears to have been influenced by the announcement of plans to enhance shareholder returns.
As of 11:07 AM on the 1st, Samsung C&T was trading at 145,000 KRW, up 7,000 KRW (5.07%) from the previous trading day. Since hitting a short-term low of 115,400 KRW on the 18th, the stock has been steadily rising. It has set a new 52-week high for two consecutive days.
Kim Ki-ryong, a researcher at Mirae Asset Securities, said, "Samsung C&T has decided on a cash dividend of 2,550 KRW per common share and a share buyback cancellation worth approximately 1 trillion KRW," adding, "The remaining treasury shares are scheduled to be fully canceled over 2025 and 2026."
He continued, "Last year, Samsung C&T announced a three-year shareholder return policy involving a five-year phased cancellation of treasury shares, a cash dividend of over 2,000 KRW per common share, and a plan to return 60-70% of dividend income from affiliates."
Researcher Kim also analyzed, "This year, Samsung C&T's management strategy focuses on expanding the portfolio by business segment and strengthening profitability." Furthermore, he forecasted, "Sales growth is expected to continue in the trading, food service, and bio sectors," and "The food service sector will reflect increased demand for meals, the establishment of dedicated cooking facilities, and the effects of strategic differentiation."
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