SK Hynix Plans $75 Billion in Shareholder Returns After Blockbuster Earnings

South Korean memory-chip titan SK Hynix 000660 6.49%increase; green up pointing triangle plans to return a total of $75 billion to shareholders this year as it reaps a windfall from surging demand for the hardware that powers artificial-intelligence computing.

The world’s second-largest memory chip maker delivered another set of blockbuster earnings on Wednesday, with net profit tripling in the third quarter.

Revenue and operating profit both hit record highs again.

Seeking to boost valuations and investor confidence, SK Hynix plans to return a total of 100 trillion won, equivalent to $75.39 billion, to shareholders, it said. That would include more than 30 trillion won in dividends and a further 20 trillion won in share buybacks, on top of its already completed 40 trillion won buyback program announced in August.

The move comes as the Korean company, a supplier of high-bandwidth memory products to AI powerhouse Nvidia, has become one of the biggest beneficiaries of the global AI investment boom.

Consecutive quarters of strong earnings have prompted SK Hynix to pledge to return more than 50% of its cumulative free cash flow to shareholders over the three years through 2027.

Net profit was 39.776 trillion won for the three months ended September, missing street views. Analysts had expected 61.418 trillion won, according to a FactSet-compiled consensus estimate.

Revenue hit a record, more than quadrupling to 104.615 trillion won. Operating profit reached 83.334 trillion won, also a record high.

Shares of the company were 2.0% higher in early trading Wednesday.