Ourhome Decides No Dividends for Shareholders This Year to Ensure Responsible Management

[Asia Economy Reporter Eunmo Koo] Ourhome announced on the 14th that it decided not to pay dividends to shareholders at the board meeting held on the 8th.

The no-dividend agenda will be submitted for final approval at the regular shareholders' meeting scheduled for the 23rd. If the agenda passes, there will be no dividends on the shares held by CEO Gu Ji-eun and other shareholders.

Ourhome's shares are held over 98% by the founder, former chairman Gu Jahak's one son and three daughters. Former vice chairman Gu Bonseong, who was ousted in last year's management dispute, holds 38.6% of the shares, while the combined shares of the three sisters Gu Mihyun, Myungjin, and Ji-eun amount to 59.6%.

Ourhome stated that instead of shareholder dividends, the company plans to focus its resources on strengthening crisis management against the possibility of deficits in the meal service business due to this year's labor cost burden and rapid inflation, as well as discovering future growth engines through mergers and acquisitions (M&A) and expansion of global business areas.

An Ourhome official said, "In the spirit of responsible management regarding the economic recession crisis and expanded investment for sustainable growth, a consensus was formed among shareholders to not pay dividends," adding, "I understand that shareholders holding friendly shares (61% shareholding), including Vice Chairwoman Gu Ji-eun, Director Gu Mihyun, and Gu Myungjin, have agreed not to receive dividends."

Despite recording a deficit in 2020 due to the COVID-19 situation and the downturn in the group meal service and food material industries, Ourhome succeeded in turning a profit within a year. It is estimated that Ourhome recorded sales of approximately 1.72 trillion KRW and operating profit of about 25 billion KRW last year.

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