Samsung Electronics plans a 90 trillion won (US$58.5 billion) share buyback, according to a June 24 report that cited unnamed industry sources.

The company agreed to give employees stock bonuses following recent wage talks.

The report also said Samsung’s management and union reached a pay deal in May, under which the company is expected to set aside about 10.5% of its operating profit for special share bonuses for employees in its chip division.

The bonus could cost Samsung 154 trillion won (US$100 billion), including taxes.

Employees would be able to sell one-third of the treasury shares they receive immediately, another third after a year, and the rest a year later.

🔗 Source: Reuters

Recent Samsung Electronics developments