SK Hynix unveils shareholder return plan worth $75 billion after posting 7-fold jump in Q3 profit

SK Hynix unveils shareholder return plan worth $75 billion after posting 7-fold jump in Q3 profit SEOUL, Oct 28 : South Korean chipmaker SK Hynix reported a more than seven-fold rise in quarterly operating profit to a record high on Wednesday, beating market forecasts, as continued demand for AI infrastructure drove up memory chip prices. The Nvidia supplier also said it will pursue shareholder returns totalling about 100 trillion won ($75.4 billion) this year, comprising cash dividends of 30 trillion won and share repurchases and cancellations of 60 trillion won, including 40 trillion won announced in August. SK Hynix reported operating profit of 83.3 trillion won for the July-September period, compared with 11.4 trillion won a year earlier. That compared with the 76.7 trillion won LSEG SmartEstimate, which is weighted toward estimates from analysts who are more consistently accurate. Quarterly revenue rose 328 per cent to 104.6 trillion won. ($1 = 1,326.0900 won)