not vested
Stock Buyback Spenders: Samsung Electronics (SSNLF)
Buyback: $9.9 billion
Market Cap: $154.66 billion
YTD Performance: -4.55%
Not being an exchange-listed name, Samsung Electronics (SSNLF) isn’t a name widely held by U.S. investors. Don’t misunderstand, though … it’s a completely legitimate ADR.
The electronics giant simply chooses not to jump through all the hoops and red tape required to secure and maintain a listing via a U.S. exchange.
With that as the backdrop, investors who believe Samsung is finally getting some of its consumer technology mojo back and who think stock buybacks matter may want to mull a position in SSNLF, as it’s about to put a ton of money to work in that manner.
Specifically, last week, Samsung told the market it had authorized a $9.9 billion share buyback program to be completed within a year. Better still, the company vowed to return between 30% and 50% of its free cash flow for the next three years to shareholders in the form of dividends.
It’s a risk to be sure — Samsung Electronics has been a lackluster performer of late. But, last quarter’s profit growth was the first earnings growth in eight quarters, hinting that the company is back on track.
Source: Investor Place