Dreamtech Cancels 5 Billion KRW Worth of Treasury Shares to Enhance Shareholder Value

[Asia Economy Reporter Kim Heeyoon] Electronic components company Dreamtech announced on the 23rd that it will cancel its treasury shares to enhance shareholder value.

According to Dreamtech, the target is 629,527 common shares (approximately 5 billion KRW), which corresponds to about 1.0% of the issued shares. The scheduled date for the treasury share cancellation is the 26th.

This decision is part of the shareholder return policy. By reducing the number of circulating shares through the cancellation of treasury shares, the value of shares held by shareholders will increase.

Dreamtech explained that following the cancellation of 734,558 treasury shares (approximately 5 billion KRW) acquired through a trust for treasury stock acquisition in March last year, it is making efforts to enhance shareholder value by newly signing a trust contract for treasury stock acquisition worth 5 billion KRW this month.

A Dreamtech official said, “The trust contract for treasury stock acquisition signed on the 10th, the dividend decision, and this treasury share cancellation decision are all part of the company's consistent efforts to enhance shareholder value.”

This content was produced with the assistance of AI translation services.