[THE INVESTOR]
Samsung SDS, the software services unit of Samsung Group, said on June 21 it has decided against buying back its own shares or paying an interim dividend after considering requests from some minority shareholders.
“We have discussed the issues together with outside experts. We have agreed that it would be better to use our cash reserve to improve our corporate value through measures such as M&As rather than stake buyback or interim dividend,” the company said in a statement.
Samsung SDS’ headquarters building in Jamsil, southern Seoul.
The company said last week it would consider a spin-off of its logistics business as part of its business restructuring. It didn’t specify further plans but industry watchers predict the logistics business is highly likely to be merged with Samsung C&T, the group’s construction and trading unit and de facto holding company.
“We will ramp up efforts to strengthen our business competitiveness and elevate shareholder value,” the company added.
By Lee Ji-yoon (
jylee@heraldcorp.com)