Me2on Subsidiary Me2zen Decides Cash Dividend Again This Year... "40% of Net Income"
[Asia Economy Reporter Jang Hyowon] Global mobile casual game company M2ZEN announced on the 16th through a public disclosure that it will pay a cash dividend equivalent to 40% of the consolidated net profit for the current fiscal year, following last year.
This is a high dividend payout ratio at the top level in the industry, and the company decided to implement the dividend in accordance with its policy to actively return profits to shareholders by maintaining a consistent dividend payout ratio this year as well. The dividend record date is December 31, and the actual dividend amount will be finally confirmed through the approval of the closing board of directors and the regular shareholders' meeting in March next year.
M2ZEN recorded cumulative consolidated sales of 71.2 billion KRW, operating profit of 31.9 billion KRW, and net profit of 26.1 billion KRW for the third quarter of this year. Despite the difficult situation caused by the prolonged COVID-19 pandemic, the company plans to enhance shareholder value and return profits as a company with stability and reliability while maintaining high profitability.
M2ZEN Chief Financial Officer Seong Jongwon said, “We are in the final stages of preparation for the release of next titles such as casual games and social casino,” adding, “We will maintain a consistent dividend policy based on high profitability to enhance shareholder value, and at the same time, actively pursue new businesses through new releases and M&A to secure strong growth momentum.”
M2ZEN is simultaneously promoting new businesses through blockchain-based game development together with its parent company M2ON, as well as releasing casual and social casino games. Several new titles such as ‘Pocket Battles’, ‘Hopping Cash Casino’, ‘Solitaire P2E Game’, and ‘Solitaire Perfect Holiday’ are awaiting release.
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Additionally, starting with the acquisition of a 70% stake and incorporation as a subsidiary of the webtoon and web novel content platform Mitun & Novel, M2ZEN plans to continuously execute its growth strategy by conducting M&A targeting excellent companies that can create synergy with M2ZEN in a wide range of industries including games, metaverse, NFT, and AI data tech.
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