SK to buy back 871 bln won worth of stocks

SEOUL, Aug. 28 (Yonhap) -- SK Corp., the de-facto holding firm of South Korean energy and telecom giant SK Group, said Friday that it has decided to buy back shares worth 871 billion won (US$742 million) in a bid to stabilize its share price and enhance shareholder value.

In a regulatory filing, SK said that it will purchase some 3.52 million common shares over three months from Monday to Nov. 27 this year.

Shares of SK closed at 262,000 won on the Seoul bourse, up 5.86 percent from the previous day's closing.

Earlier, SK said it would also boost dividend payout to meet growing calls from investors.

sam@yna.co.kr
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