Samsung adds $9 billion to its market value as shares soar to record highs

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Samsung Electronics’ much-awaited response to the corporate restructuring proposal put forward by minority shareholder Elliott Associates finally came through yesterday. While the company has given itself six months to decide whether or not it would want to split Samsung Electronics into two, it announced some eagerly anticipated measures to boost shareholder value in the short-term. Investors are happy with Samsung’s decision so far. Samsung Electronics shares have hit a record high today, adding $9 billion to the company’s market value in a single day.

The company has said that it plans to dole out up to $3.6 billion in dividend payouts this year which roughly boils down to around $256 dividend per share. The amount earmarked for dividends in 2016 is 36 percent higher than it was last year. Samsung Electronics has also committed to returning 50 percent of its free cash flow in 2016 and 2017 to shareholders through greater dividend payouts and buyback of treasury shares. Samsung has already spent $10 billion from its reserves to buyback shares and improve shareholder value.

As a result of its announcement yesterday, Samsung Electronics shares surged by 4.2 percent to hit a record high of 1.747 million won or just under $1,500. Samsung Electronics is the cash cow of the Samsung Group conglomerate that’s controlled by the founding Lee family.

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