[Click eStock] "Kangwon Land, Attractive Dividend Yield Despite Poor Earnings"

Shinhan Investment Corp. evaluated that despite the sluggish core business, the dividend yield of 6.8% for Kangwon Land is attractive on the 21st. The investment opinion 'Buy' and the target price of 22,000 KRW were maintained.

Ji In-hae, a researcher at Shinhan Investment Corp., stated, "The shareholder return policy is positive," adding, "Through the value-up disclosure, a total shareholder return rate target of 60% was announced."

Kangwon Land has shown a dividend payout ratio of around 50% even with the 2.5 trillion KRW investment in High1 Integrated Tourism (K-HIT), falling short of market expectations.

Researcher Ji analyzed, "Considering non-operating items such as refunds from winning the lawsuit to cancel the imposition of value-added tax, this year's net profit is 445.8 billion KRW," and "Even with a dividend payout ratio of only 52%, the dividend per share would be 1,150 KRW, resulting in a current dividend yield of 6.8%."

He also evaluated, "For the first time since 2012, the company has started share buybacks, which will also support the downside."

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