Samsung Electronics plans to buy back shares worth 10 trillion won ($7.17 billion) over a one-year period to boost shareholder value, it said in a regulatory filing submitted after the market closed on Friday.

Samsung Electronics Co. plans to buy back about 10 trillion won ($7.2 billion) of its own stock over the next year, putting in motion one of the larger shareholder return programs in its history.

Samsung Electronics (OTC:SSNLF) announces plans to repurchase shares worth 10 trillion won (~$7.17B) as part of its strategy to boost shareholder value. The Board of Directors approved the buyback program,