The company said its board authorized a share repurchase program for up to $5 billion of outstanding common stock, effective September 13, 2024. It said it plans to begin repurchasing shares by early 2025.

8-KOther EventsFiled Sep 12, 2024Period of report Sep 12, 2024Summary published (UTC) Oct 25, 2026

Key points

AI summary

The company said its board authorized a share repurchase program for up to $5 billion of outstanding common stock, effective September 13, 2024. It said it plans to begin repurchasing shares by early 2025.
The company said the new repurchase program replaces the existing program announced on December 2020, which will be terminated effective September 12, 2024.
The company said it will pay a quarterly common stock dividend of $0.50 per share, raised from the prior quarter, on October 15, 2024. It said the increase is 2% over the prior quarter and that the annualized dividend is equivalent to $2.00 per common share.
The company said it will use the repurchase program at its discretion and may buy shares in the open market or in privately negotiated transactions. It said it has no obligation to buy a particular amount of common stock and there is no guarantee as to how many shares it will repurchase.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

$5 billion Share Repurchase Program Approved

The company said its board authorized a share repurchase program for up to $5 billion of outstanding common stock, effective September 13, 2024. It said it plans to begin repurchasing shares by early 2025.

Source · Based on the filing body and exhibits

Replaces Existing 2020 Share Repurchase Program

The company said the new repurchase program replaces the existing program announced on December 2020, which will be terminated effective September 12, 2024.

Source · Based on the filing body and exhibits

Quarterly Common Dividend Raised to $0.50 per Share

The company said it will pay a quarterly common stock dividend of $0.50 per share, raised from the prior quarter, on October 15, 2024. It said the increase is 2% over the prior quarter and that the annualized dividend is equivalent to $2.00 per common share.

Source · Based on the filing body and exhibits

Repurchase Discretion and Conditions

The company said it will use the repurchase program at its discretion and may buy shares in the open market or in privately negotiated transactions. It said it has no obligation to buy a particular amount of common stock and there is no guarantee as to how many shares it will repurchase.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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