Philoptics Secures Additional 50 Billion KRW Dividend Capacity... "Implementing Shareholder Return Policy"

Philoptics held an extraordinary general meeting of shareholders and announced on the 23rd that it approved the agenda for the ‘Transfer of Capital Surplus to Retained Earnings.’

This agenda involved transferring 50 billion KRW to retained earnings to secure dividend capacity. It is preparation for an in-kind dividend based on the fiscal year-end 2023 as part of the shareholder return policy. The in-kind dividend consists of 60 to 70 shares of Phil Energy stock for every 1,000 shares of Philoptics stock. The market dividend yield is approximately 16% based on recent market prices. If Phil Energy’s stock price continues to rise, the actual dividend amount is expected to increase further.

Philoptics is steadily implementing its shareholder return policy, which has been announced several times already. In April this year, it conducted a regular cash dividend of 35 KRW per share. On October 31, it plans to pay a quarterly cash dividend of 188 KRW per common share. Shares held by the largest shareholder and their special related parties, as well as treasury shares, are excluded from the dividend target. Additionally, in July, Philoptics entered into a trust contract to acquire treasury shares worth 6.2 billion KRW, completed the purchase, and plans to cancel all shares in accordance with relevant laws and regulations.

Meanwhile, Philoptics plans to accelerate the expansion of new businesses such as semiconductors and solar energy alongside the continuous growth of its core display business. In particular, it expressed expectations for new semiconductor equipment for advanced packaging processes.

Philoptics supplies equipment necessary for glass-based advanced packaging semiconductor manufacturing processes, including lithography machines, drilling equipment, and TGV (Through Glass Via) equipment. A Philoptics official stated, “We expect a bright business outlook in the future, supported by the growth of the advanced packaging market, which is expected to blossom from 2025.”

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