SEOUL: Tech giant Samsung Electronics Co Ltd has unveiled a 11.3 trillion won (US$9.9bil) share buyback after reporting its first on-year profit growth in two years thanks to strong component sales, pushing its shares sharply higher.
Samsung said it would cancel all shares purchased through the buyback, its biggest to date, and planned to give shareholders 30% to 50% of its free cash flow over the next three years, primarily through dividends.
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