Kim Min-young, CEO of Dong-A Socio, "Turning Crisis into Growth Opportunity"

At the Annual General Meeting on the 31st

Kim Min-young, CEO and President of Dong-A Socio Holdings, is delivering a greeting at the 77th Annual General Meeting of Shareholders of Dong-A Socio Holdings. Photo by Dong-A Socio Holdings

Dong-A Socio Holdings held its 77th Annual General Meeting of Shareholders on the 31st at the auditorium on the 7th floor of the new building in Yongdu-dong, Dongdaemun-gu, Seoul.

At the shareholders' meeting, six agenda items were approved as originally proposed: ▲approval of the 77th financial statements and consolidated financial statements ▲reduction of capital reserve and transfer to retained earnings ▲partial amendment of the articles of incorporation ▲appointment of directors ▲appointment of audit committee members ▲approval of the limit on directors' remuneration. A cash dividend of 1,000 KRW per share and a stock dividend of 0.03 shares per share were also approved, with payments starting from April 18.

The reduction of capital reserve and transfer to retained earnings is a measure to secure dividend resources so that shareholders can receive tax-exempt dividends starting from the fiscal year 2025 settlement dividend.

The articles of incorporation were also amended to allow the record date for quarterly dividends to be set after the board of directors decides on the dividend. Previously, Dong-A Socio Holdings amended the articles of incorporation at last year's annual general meeting to set the record date for the settlement dividend to enhance shareholder predictability. This enables investors to know the dividend amounts in advance for both settlement and quarterly dividends and make investment decisions accordingly.

At the shareholders' meeting, Hyunmin Lee, Executive Director and Head of Corporate Planning at Dong-A Socio Holdings, was newly appointed as an inside director. For outside directors, Professor Sewon Kwon of the Department of Business Administration at Ewha Womans University was reappointed, and Professor Yeonseok Jung of the College of Pharmacy at Seoul National University was newly appointed.

Dong-A Socio Holdings reported achieving consolidated sales of 1.3332 trillion KRW and operating profit of 82.1 billion KRW in 2024. These figures represent increases of 17.8% and 6.8%, respectively, compared to the previous year.

In his chairman’s greeting, CEO Minyoung Kim said, "The uncertainty in the business environment is expected to increase further," adding, "We will realize sustainable growth through our experience of turning crises into new growth opportunities and through continuous innovation and challenges."

He emphasized, "We will make swift and bold decisions to maximize synergy between businesses and improve management efficiency."

Meanwhile, Dong-A Socio Holdings announced a new medium- to long-term shareholder return policy for 2024?2026 last year. Based on free cash flow from separate financial statements, more than 50% will be used as shareholder return resources. The company plans to maintain the existing quarterly (interim) dividend policy, pay 30 billion KRW in cash dividends over three years, and conduct a 3% stock dividend annually.

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