Welcron Actively Strengthens Shareholder-Friendly Policies Including 'Cash Dividends and Share Buybacks'

[Asia Economy Reporter Donghyun Choi] Wellcron, a textile specialist company, announced on the 28th that it will implement a cash dividend of 50 KRW per common share for the 2021 fiscal year and expand shareholder-friendly policies to enhance corporate value and shareholder value.

This cash dividend is part of the shareholder profit return policy. While steadily growing, led by its core business area, the living division, the dividend was decided to enhance shareholder value for investors who believed in the company's growth potential and invested accordingly. The dividend yield is 1.08%, and the total dividend amount is 1,370,998,250 KRW.

Since the spread of COVID-19, Wellcron has been establishing various growth foundations based on stable performance in the living business, driven by the growth of the home styling market. Wellcron is also strengthening its business portfolio by fostering the defense business, developing high value-added new materials, and creating eco-friendly cleaners based on biodegradability and recycling.

A Wellcron representative said, "Despite the uncertain market environment and confusion caused by COVID-19, we have achieved stable performance, surpassing 100 billion KRW in sales for three consecutive years (on a separate basis). We decided on a cash dividend following the share buyback to repay the shareholders who have trusted and supported the company's growth."

Meanwhile, Wellcron purchased 484,781 treasury shares by investing about 2 billion KRW from November last year until the 10th of this month.

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