KT Skylife to Cancel Treasury Shares Worth 2.4 Billion KRW

KT Skylife announced on the 1st that it had canceled 2.4 billion KRW worth of treasury shares on the 31st of last month.

Skylife disclosed in February this year that it had decided to enter into a trust contract for the acquisition of treasury shares, acquiring treasury shares worth 2.4 billion KRW (equivalent to 50 KRW per share). After the acquisition and the mandatory holding period of six months, the treasury share acquisition and cancellation process was properly completed with this cancellation. Canceling treasury shares can increase stock value by reducing the number of shares in circulation.

At the time of the treasury share acquisition announcement, Skylife also announced a cash dividend of 350 KRW per share (16.7 billion KRW), corresponding to a dividend yield of 4.08%, revealing a shareholder return plan totaling approximately 400 KRW per share. Since 2012, Skylife has maintained a shareholder-friendly management policy by paying cumulative cash dividends of about 200 billion KRW over 11 consecutive years up to this year.

Yang Chun-sik, CEO of KT Skylife, said, “While strengthening the fundamentals of Skylife’s management through net increases in TPS subscribers and expanded content investment, we will continue to communicate steadily by finding various ways to enhance shareholder value.”

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