Samsung Electronics says it will cancel $4.4 billion worth of shares

SEOUL (Reuters) - Samsung Electronics Co Ltd <005930.KS> said on Friday it would cancel 4.9 trillion won ($4.4 billion) worth of its shares.

The stock cancellation included 450 million in common stock and 81 million in preferred stock, the company said in a filing to the stock exchange.

Samsung has said it plans to cancel its remaining treasury shares this year to enhance shareholder value.

($1 = 1,119.1800 won)

(Reporting by Ju-min Park; Editing by Stephen Coates)