Redcap Tour Converts 48 Billion KRW Capital Reserve into Retained Earnings

Redcap Tour has completed preparations for tax-exempt dividends. Among the three corporate value-up plans announced on the 8th of last month, the company has finalized the treasury stock cancellation and bonus issue, and completed the preliminary work to proceed with tax-exempt dividends.

Redcap Tour announced on the 20th that the approval for the reduction of capital reserves was passed as originally proposed at the extraordinary general meeting of shareholders. The related agenda item is a measure to convert capital reserves into retained earnings to expand dividend resources and to pay dividends to shareholders without taxation.

The dividend-available profit increased by 48 billion KRW through this conversion and can be used as a resource for future tax-exempt dividends. Companies with sufficient capital reserves and strong financial structures can reduce capital reserves to create room for dividends.

Earlier this year, Redcap Tour amended its articles of incorporation to change the fixed dividend record date of December 31 each year to a date determined by the board of directors. Investors can decide whether to invest after the dividend amount and record date of Redcap Tour are determined.

Redcap Tour will finalize and announce the dividend amount and record date at the board meeting early next year.

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