KakaoBank, '38.1 Billion KRW' First Ever Dividend Payment
"Enhancing Shareholder Value"
KakaoBank[323410] announced on the 13th that its board of directors decided on a cash dividend of 38.1 billion KRW and a share repurchase of 13 billion KRW.
According to the disclosure, KakaoBank will pay a dividend of 80 KRW per common share. The dividend yield is 0.31%, and the dividend payout ratio is 1.6%. This will be resolved at the shareholders' meeting scheduled for the 29th. Additionally, KakaoBank plans to acquire treasury shares worth 13 billion KRW.
The scheduled contract period is from April 6 to October 5, during which the share repurchase will be conducted over six months.
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Yoon Ho-young, CEO of KakaoBank, had stated last October that the company would consider shareholder return policies such as share repurchases and cancellations in response to the stock price decline.
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