Daedong Metal Announces Stock Dividend to Enhance Shareholder Value

One New Share Allocated for Each Common Share
Total of 3,189,166 New Shares to Be Issued

Daedong Metal, a specialized casting parts manufacturer under the Daedong Group, announced on March 27 that it has decided on a stock dividend, allocating one new common share for every one existing common share. A total of 3,189,166 new shares will be issued through this stock dividend. The record date for the allocation of new shares is April 13, and the new shares are scheduled to be listed on May 7. The source of funds is 3.2 billion won in capital surplus, allowing the process to proceed without any cash outflow or changes to the company’s financial structure.

Daedong Metal explained that this stock dividend is intended to increase the number of shares in circulation, thereby enhancing liquidity and investor accessibility and laying the foundation for strengthening long-term shareholder value. The company emphasized that this decision is not for short-term stock price support but is part of a shareholder-friendly policy and a move to strengthen communication with the market.

The company also noted that this stock dividend is in line with Daedong Metal’s strategy to strengthen its foundation for long-term growth. Daedong Metal is currently pursuing joint development with relevant research institutes to enter the advanced materials sector for robot actuator components, and is preparing to enter the architectural new materials sector for advanced glasshouse smart farming in line with the government’s Agricultural AI Transformation (AX) policy.

Founded in 1947, Daedong Metal is a casting specialist that has led the localization of high-difficulty casting parts such as cylinder blocks and heads for diesel engines used in agricultural machinery, automobiles, and heavy equipment. Daedong Metal CEO Lee Poongwoo said, "Based on our accumulated casting technology, Daedong Metal is strengthening the competitiveness of its existing business while continuing to expand into high value-added industries. Through this stock dividend, we aim to share the results of growth with our shareholders and build a more robust corporate value."

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