NextFin News — SK Hynix Inc. said Wednesday its board has approved a plan to repurchase up to 24.07 million common shares valued at 40 trillion won, or about $28.6 billion, and cancel them in full after the buyback.
The program, based on the prior day’s closing price of 1.662 million won per share, equates to roughly 3.3 percent of the company’s outstanding shares. Purchases are scheduled to begin Aug. 20 and run for about three months. The memory-chip maker said the move aims to enhance shareholder value after determining that its shares are undervalued relative to intrinsic value and cash-generation capacity.
The repurchase accelerates SK Hynix’s existing 2025–2027 shareholder-return framework, under which the company now targets returning more than 50 percent of cumulative free cash flow through a combination of buybacks, cancellations and dividends.
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