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SK Hynix Inc. said it plans to buy back and cancel 40 trillion won ($29 billion) of treasury stock and to allocate more than 50% of cumulative free cash flow from 2025 to 2027 to shareholder returns.
JPMorgan analyst Jay Kwon says SK Hynix’s plan to buy back and cancel 40 trillion won of treasury shares over the next three months is positive for stock sentiment.
SK Hynix announced plans to repurchase and cancel 24.07 million shares over the next three months and lifted its shareholder return commitment to more than 50% of cumulative free cash flow from 2025 to 2027.
Jim Cramer says the AI data center supply chain depends too heavily on SK Hynix and Samsung shares that he says are controlled by leveraged retail traders, while SK Hynix also announced a 40 trillion won buyback and cancellation plan.
SK Hynix’s U.S.-listed ADR SKHY rises in premarket after the company said it will buy back and cancel 40 trillion won, or $29 billion, of treasury shares.
SKHY says it will buy back and cancel 40 trillion won ($28.61B) of treasury shares and allocate more than 50% of free cash flow from 2025 to 2027 to shareholder returns.