Samsung Electronics’ shares rose more than 7% on Monday after the company announced a surprise plan to buy back 10 trillion South Korean won ($7.19 billion) of its stock over the next year.

This follows a 7.21% surge on Friday after the company reached a preliminary agreement with its largest workers’ union, ending a July strike.

Samsung’s last buyback was in November 2017.

The company will repurchase 3 trillion won of shares in the next three months and cancel them, while the remainder will be used to enhance shareholder value, CNBC has reported.

Samsung’s stock had recently hit a four-year low amid concerns over its third-quarter profits and competition with SK Hynix in the high bandwidth memory market.

Written by B.C. Begley