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Hyundai Motor Company announced that it has decided to acquire 2,346,681 common shares and 632,770 preferred shares per purchase.
The amount to be acquired is WK 245.7 billion, including ordinary shares of W 23 168 million and preferred shares of W 41 707 676 840 a day earlier.
Hyundai Motor has announced that it would buy the shares for 1% of the total shares issued from March 3rd to February 28th of next year.
Hyundai Motor is buying treasury shares only four months after buying 1% of its issued shares to cancel treasury shares in April-July.
Hyundai Motor announced its shareholder value enhancement policy by issuing a medium and long-term dividend distribution policy representing 30-50% of free cash flow in 2017, as a result of the 39; purchase of own shares of about 500 billion won in 2014.
Hyundai Motor announced it has committed 8.44 million shares (940 billion won) of own shares, equivalent to 3% of outstanding shares, in April-July, but this acquisition would be used to strengthen shareholder performance policies for the medium and long term. .
"The decision to acquire treasury shares is part of a constant effort to increase shareholder value," said a Hyundai Motor official. We particularly want to confirm our desire to stabilize investors worried about the recent fall in stock prices. "
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