Samsung Electronics to boost dividends after record Q3 profit

Seoul

SOUTH Korean technology giant Samsung Electronics Co Ltd promised to return US$26 billion to shareholders over the next three years as it reported record third-quarter profit on the back of the global boom in memory chips.

The world's biggest maker of semiconductors, televisions and smartphones said it would double dividends next year to 9.6 trillion won (S$11.68 billion) and keep them at that level until 2020, as it responds to investor pressure to share its vast cash reserves and catch up with some of its more generous peers.