SAMSUNG ELEC UNVEILS RECORD PROFIT

SEOUL : Samsung Electronics Co Ltd announced on Wednesday its first stock split and said it expects demand for semiconductors-

To remain strong in 2018, as it posted record annual profit driven by so-called memory chip ''super-cycle''.

The tech giants stock split is the latest in a series of moves to bolster shareholder returns, including  5.8 trillion won [$5.4 billion]  in annual dividends and  9.2 trillion won in share buybacks and cancellations in 2017.

The firm's largesse has encouraged investors to hod shares despite concerns that the memory business may be peaking.

The stock split will open the door to retail investors, as well, boosting liquidity and underpinning valuations, analysts said.

''The stock split comes as a surprise to me,'' said  Kim Sung-soo, a fund manager at L.S. Asset Management who holds Samsung shares, noting that Samsung previously had shrugged off investors calls to split its shares.

''This will not have an impact on the company's fundamentals, but it will increase the supply of the stock and have a positive impact on shares.''

Led by a  stellar fourth quarter, the global leader in televisions, memory chips and smartphones brought home an annual profit of 53.7 trillion won [$50.2 billion]  in 2017-

Outstripping the previous record of 36.* trillion won in 2013.

[Agencies].