KT&G to Cancel All Treasury Shares Worth 1.85 Trillion Won... "Strengthening Shareholder Returns"

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KT&G will cancel all of its treasury shares in an effort to enhance shareholder value.

KT&G announced on April 16 that its board of directors has decided to cancel all 10,866,189 treasury shares. Based on the previous day's closing price, the cancellation is valued at approximately 1.8515 trillion won, with the cancellation date scheduled for April 23.

Previously, on February 25, shortly after the National Assembly passed the so-called "third amendment to the Commercial Act," which makes the cancellation of treasury shares held by companies mandatory, the company held a board meeting and announced its plan to cancel its treasury shares.

Additionally, during the regular shareholders' meeting held on March 26, KT&G confirmed an increase in its annual dividend by 600 won to 6,000 won compared to the previous year, further strengthening its shareholder return policy.

A KT&G representative stated, "We decided to cancel all previously held treasury shares in accordance with the intent of the amended Commercial Act," adding, "We will continue to pursue various measures such as expanding dividends to enhance corporate and shareholder value."

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