Samsung listened to the advice of hedge Fund Elliott Management, but the decision to separate has not yet made

Yesterday we reported that Samsung Electronics has decided to consider the proposal of hedge Fund Elliott Management about splitting into two companies.

Today the Korean giant has published the press release in which it described the actions of the company in the near future.

So, the company has identified several key actions. First, in 2016 and 2017 Samsung Electronics will return to shareholders 50% of free cash flow. Also, the company will increase total dividends for the current year at 30% yoy, which ultimately will provide about $ 3.4 billion. In addition, starting from April 2017, Samsung will begin quarterly paying dividends.

Samsung has also listened to the Fund and will invite the Board of Directors of several independent people with international corporate experience. At the moment the company is looking for suitable candidates. At least one new member will be added in March 2017.

As for the division, while no specifics about such a possibility Samsung was announced. The company notes that it will take steps aimed at simplifying the business. Among other things, this includes the possibility of separation. In a press release said that the process of formation of all aspects of the new strategy will take at least six months.

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