Samsung shares fall 8% despite record dividends
Samsung Electronics' stock dropped by over 8% after announcing a record-breaking dividend payout plan for 2024, with distributions ranging between 90 trillion and 110 trillion won (approximately $65 to $80 billion), including 30 trillion won in cash dividends for the third quarter. Although the rewards are nearly five times higher than in 2020, the market considered them insufficient, especially given the lack of details about share buyback plans or treasury stock cancellations. This comes at a time when Korean chip companies are competing to capitalize on the AI boom, with expectations of an upcoming meeting between the South Korean president and Samsung's CEO to discuss projects related to semiconductors and artificial intelligence.
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