SK hynix to buy back and cancel $28.3 billion in shares starting August 20

SK hynix's board approved a 40 trillion won ($28.3 billion) share buyback starting August 20, running roughly three months. All repurchased shares will be permanently cancelled — not held as treasury stock — shrinking the float and mechanically lifting earnings per share. The buyback follows record Q2 operating profit of 60.54 trillion won, up 557% year-over-year.