Refine to Boost Corporate Value with First Cash Dividend and New Business Investments via 'Two-Track' Strategy

Refine, a company specializing in real estate rights investigation, is aiming to enhance its mid-to-long-term corporate value by simultaneously pursuing its first cash dividend since listing and expanding its B2C proptech business.

On March 24, Refine announced that it plans to propose a cash dividend of 260 won per share at its regular general shareholders' meeting scheduled for the 31st. This marks the company's first dividend since going public, with a payout ratio exceeding 40%. This figure is higher than the average payout ratio of 34.4% for KOSDAQ-listed companies as of the end of 2024.

This dividend policy reflects the government's value-up initiative and meets the criteria for high-dividend companies, which require a payout ratio of 25% or higher. It also takes into account the benefits of separate taxation on dividend income for investors. Refine stated that it will continue its dividend policy going forward, while also regularly reviewing additional shareholder return measures such as share buybacks.

In addition to dividends, Refine is also pursuing growth strategies. The company is currently working on a B2C proptech bolt-on investment worth approximately 70 to 80 billion won, and plans to build a new revenue model that connects real estate data provision to mortgage brokerage, all based on its proprietary application, 'Zipfine.'

If this structure is completed, the company expects to realize a differentiated proptech model that connects the entire process—from real estate search, to ensuring transaction security, to financial services—within a single platform.

Furthermore, to strengthen its execution of strategic initiatives, the company plans to appoint a new board director with expertise in finance. The nominee, recommended by the board, previously served as Head of Retail Group and Deputy President at Standard Chartered Bank Korea. Through this appointment, Refine aims to reinforce collaboration with financial institutions, solidify its market dominance in the security investigation business for jeonse loans, and actively expand into new areas such as monthly rent-related businesses.

Internally, the company also plans to improve employee compensation and welfare systems, including enhancements to its incentive program.

Meanwhile, the loss related to exchangeable bonds reflected in the audit report is a temporary valuation loss based on accounting standards, resulting from changes in exchange conditions and the underlying asset value. According to International Financial Reporting Standards (IFRS), derivatives are valued at fair value at each fiscal year end; this does not affect actual operating profit, asset value, or cash flow.

A company representative stated, "This loss arose from the valuation of derivatives linked to stock price increases and does not affect the fundamentals of the company," adding, "Based on the stable cash generation of our core business and a financial base of 190 billion won, we will continue to pursue shareholder returns and growth investments."

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