Daesin Securities, 24 Consecutive Years of Cash Dividends... Even Acquiring Treasury Shares
[Asia Economy Reporter Junho Hwang] Daishin Securities has resolved to pay cash dividends and acquire treasury shares.
Daishin Securities announced on the 28th that it held a board meeting and decided on a cash dividend of 1,400 KRW per common share along with the acquisition of 1.5 million treasury shares. This dividend amount increased by 200 KRW compared to last year, reflecting improved performance.
The total dividend amount is 94.4 billion KRW, with a dividend payout ratio reaching 52.8% based on separate financial statements. The company explained that this was set somewhat higher than the dividend guideline considering the compensation costs for Lime Fund investors. Going forward, under normal business conditions, the company plans to maintain a dividend policy at the level of 30-40% based on separate financial statements.
Preferred shares will receive a dividend of 1,450 KRW, and 2nd class preferred B shares will receive 1,400 KRW. The dividend yield is 6.7% for common shares, 8.08% for preferred shares, and 8.06% for 2nd class preferred B shares.
Daishin Securities achieved record-high consolidated operating profit of 885.5 billion KRW and net profit of 615.8 billion KRW. Based on separate financial statements, which serve as the basis for dividend calculation, operating profit was 281.8 billion KRW and net profit was 178.7 billion KRW.
Additionally, Daishin Securities decided to acquire 1.5 million common treasury shares. This is a measure to stabilize the stock price and enhance shareholder value. The acquisition will take place over three months from May 2 to May 31. The planned acquisition amount is 24.45 billion KRW.
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Song Jongwon, Head of Corporate Planning, said, "This marks the 24th consecutive year of cash dividends, and we have been continuously repurchasing treasury shares since 2002," adding, "Through steady dividends and treasury share acquisitions, we will continue to implement shareholder-friendly policies that benefit long-term investors."
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