Aug 5 (Reuters) - Samsung Electronics is exploring ways to enhance shareholder returns in a "sustainable manner," the South Korean company said in a statement to Reuters on Wednesday, adding that it expects to share details "very soon."
"While we remain focused on maintaining a healthy balance sheet to manage cyclical risks and fund growth initiatives, we are also exploring ways to enhance shareholder returns in a sustainable manner," the statement said.
Its cross-town rival SK Hynix also said in a separate statement to Reuters that the company is preparing concrete shareholder return plans by the end of the year and expects to "meaningfully expand shareholder returns."
"Based on record-high cash generation capabilities, the company believes that it can meaningfully expand shareholder returns, while maintaining investments and financial soundness," SK Hynix said, adding it is "reviewing various options for additional shareholder returns."
Last week, the two companies reported record-smashing quarterly profits on AI-driven demand for memory chips.
(Credit: Reporting by Kumar Tanishk in Bengaluru and Hyunjoo Jin in Seoul, Editing by Louise Heavens, Miyoung Kim)
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