SK Square to Cancel Treasury Shares Worth 106.3 Billion KRW at Once to "Enhance Shareholder Value"

by Jang Heejun

Published 22 Jun.2023 18:46(KST)

SK Square

SK Square announced on the 22nd that it will temporarily retire treasury shares worth approximately 106.3 billion KRW on October 4 to enhance shareholder value.

The treasury shares scheduled for retirement consist of 2,486,535 common shares, accounting for 1.8% of the total issued shares.

At the regular shareholders' meeting in March, SK Square defined this year as "the first year to return value to shareholders" and announced plans to conduct treasury share buybacks, retirements, and cash dividends through 2025. The shareholder return scale is basically set at 30% or more of recurring dividend income, with additional returns depending on the investment performance of portfolio companies.

The company is also considering an additional return plan of about 200 billion KRW after completing the SK Shieldus stake sale transaction next month. SK Square was established in November 2021 when SK Telecom spun off its business and investment divisions into a separate investment-focused company.