Woongjin ThinkBig to Cancel 5 Billion KRW Worth of Treasury Shares... "Enhancing Shareholder Value"
Woongjin ThinkBig announced on the 21st that it will cancel 5 billion KRW worth of treasury shares to enhance shareholder value. Photo by Woongjin ThinkBig
View original image[Asia Economy Reporter Kim Heeyoon] Woongjin ThinkBig announced on the 21st that it will cancel treasury shares worth 5 billion KRW to enhance shareholder value.
The shares to be canceled are 1,895,000 treasury shares purchased from June 26 to the 18th of this month. This corresponds to 1.6% of the total issued shares.
Woongjin ThinkBig has continuously implemented shareholder-friendly policies such as capital reduction and regular dividends. In February, it carried out a capital reduction amounting to 12.5% of the total common shares. Additionally, it implemented a year-end dividend of 31 billion KRW per share and a semi-annual dividend of 40 KRW per share.
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Lee Sujong, Head of Management Support at Woongjin ThinkBig, said, “This treasury share purchase and cancellation is part of our shareholder-friendly policy,” adding, “We plan to maintain a dividend payout ratio of over 50% and conduct regular dividends.”
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