Samsung’s (SSNLF: OTC US) Soaring Profit Will Benefit its Shareholders
Samsung Electronics Co Ltd. (SSNLF: OTC US), has a great news for its shareholders. In its effort to raise its stock price the world’s biggest maker of Smartphones in a statement today said it would raise its cash returns to shareholders.
Samsung has pledged to double its dividend yield, invest in new technology and boost marketing to topple Apple in the mobile sector.
Samsung Electronics (SSNLF: OTC US) executive at a meeting with investors on Wednesday laid out their vision for the company’s future. They plan to put in action a fine-tune a strategy that has helped the company become the world’s biggest Smartphone maker.
The share price “does not fully reflect our profit growth and our leadership position in the I.T. industry,” said Lee Sang-Hoon, the company’s chief financial officer. “Going forward, we will put more emphasis on direct shareholder returns while maintaining our strategy of growth.”
The South Korean company vowed to double its dividend yield, invest in new technology and boost marketing to topple Apple Inc. (NASDAQ: APPL). Samsung’s (SSNLF: OTC US) one-third share of the global Smartphone business is more than double the volume of its nearest competitor, Apple (NASDAQ: APPL).
Soaring profits leave Samsung with a $40 billion cash pile Given that Samsung is one of only two smartphone vendors in the world to post significant profits,…
Leave a Reply