Namyang Dairy Products Burns Additional 20 Billion KRW of Treasury Shares... Total 60 Billion KRW After Acquisition by Hahn & Co

Board Meeting Held on the 7th, Decides on 20 Billion KRW Worth of Share Cancellation
Third Time Following Last September and This January... Continues Shareholder Returns
Dividend of 100 KRW per Common Share and 105 KRW per Preferred Share Decided

Namyang Dairy Products is once again canceling its treasury shares. This is the third time since the acquisition by the private equity fund (PEF) management company Hahn & Company (Hahn & Co). The company is continuing its active shareholder return policy, raising expectations for a rise in its stock price.

On the 7th, Namyang Dairy Products held a board meeting and announced that it decided to cancel treasury shares worth approximately 20 billion KRW. The shares to be canceled are 305,464 treasury shares purchased from October last year to February this year, with the cancellation scheduled for the 17th. Additionally, it was decided to pay a cash dividend of 100 KRW per common share and 105 KRW per preferred share as a year-end dividend. The dividend record date is December 31 of last year. The dividend payment date is scheduled for the 25th of next month.

Since being acquired by Hahn & Co last year, Namyang Dairy Products has been pursuing an active shareholder return policy. In particular, it has been conducting multiple rounds of treasury share repurchases and cancellations. It canceled treasury shares worth 23.1 billion KRW in September last year and 20.1 billion KRW in January this year. Including the amount announced on the 7th, the company has canceled treasury shares worth approximately 60 billion KRW over the past year.

A Namyang Dairy Products official stated, "We will do our best to maximize shareholder value based on sustainable growth."

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