[Click eStock] "Kangwon Land, Attractive Dividend Yield Despite Poor Earnings"

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Shinhan Investment Corp. evaluated that despite the sluggish core business, the dividend yield of 6.8% for Kangwon Land is attractive on the 21st. The investment opinion 'Buy' and the target price of 22,000 KRW were maintained.

Ji In-hae, a researcher at Shinhan Investment Corp., stated, "The shareholder return policy is positive," adding, "Through the value-up disclosure, a total shareholder return rate target of 60% was announced."

Kangwon Land has shown a dividend payout ratio of around 50% even with the 2.5 trillion KRW investment in High1 Integrated Tourism (K-HIT), falling short of market expectations.

Researcher Ji analyzed, "Considering non-operating items such as refunds from winning the lawsuit to cancel the imposition of value-added tax, this year's net profit is 445.8 billion KRW," and "Even with a dividend payout ratio of only 52%, the dividend per share would be 1,150 KRW, resulting in a current dividend yield of 6.8%."

He also evaluated, "For the first time since 2012, the company has started share buybacks, which will also support the downside."

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