Samsung reports record 2017 profit, announces 50-1 stock split

Samsung Galaxy S8

The company's Display unit had a 1.4 trillion yen profit ($1.3 billion USD) in the fourth quarter, up slightly from the 1.3 trillion yen profit it had the previous year.

To bring greater clarity and predictability to its shareholder returns, the Company in October 2017 announced a three-year shareholder return policy for 2018-2020 that includes yearly dividends of KRW 9.6 trillion.

The firm's sales grew 23-point-seven percent to reach 65-point-98 trillion won in the September-December period.

Samsung Electronics, the flagship subsidiary of the giant Samsung Group, has had to overcome a humiliating recall of the Galaxy Note7 device and the jailing of its vice-chairman Lee Jae-Yong on corruption charges, but its financial performance has gone from strength to strength. This brings 2017 annual dividend, announced today, to KRW 5.8 trillion won, which equates to a 46-percent YoY increase.

The Board of Directors (BoD) of Samsung Electronics today approved a 50:1 stock split as another step to enhance shareholder value.

Fourth quarter earnings were driven by the components business, with the largest contribution coming from the memory business that manufactures DRAM and NAND chips, the company said.

But seasonal factors impacted growth for the System LSI and Foundry businesses, it said, and profitability for LCD panels.

For all of 2017, sales and operating profit came to 239.5 trillion won and 53.65 trillion, respectively, up 18.6 percent and 83.4 from a year earlier, respectively. Samsung's chip-making unit posted 10.9 trillion won (10.2 billion USA dollars) of operating profit on revenue of 21.11 trillion won (19.7 billion US dollars).

Samsung Electronics Co. said Wednesday that it has chose to dramatically lower the face value of it stocks, as it posted record highs in sales and operating profits in the fourth quarter on rising chip demand.



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