KB Securities: Samsung Electronics Could Return ₩600 Trillion to Shareholders Over Next 3 Years

Add preferred source KB Securities projected that Samsung Electronics' shareholder return program over the next three years could expand to ₩600 trillion (approximately $441.8 billion), more than four times the ₩140 trillion (approximately $103.1 billion) returned over the past three years. The brokerage estimates the South Korean tech giant could execute ₩70 trillion (approximately $51.5 billion) in cash dividends and ₩40 trillion (approximately $29.5 billion) in share buybacks and cancellations in the second half of this year alone. The outlook is underpinned by a prolonged supply shortage in conventional DRAM driven by HBM production expansion. HBM is expected to account for more than one-third of total DRAM wafer production capacity by 2027, with HBM4's revenue share projected to reach 80%. KB Securities also estimates HBM selling prices could more than double year-over-year in 2027.