508 KT&G raises shareholder value with a resolution to acquire 350 billion won in treasury stocks 2022.11.04
KT&G (President Baek Bok-in) announced in a public announcement on the 3rd that it has decided to acquire treasury stocks worth about 350 billion won in accordance with the mid- to long-term shareholder return policy, and is also considering increasing dividends per share by more than 200 won compared to the previous year.
In November last year, KT&G announced a shareholder return policy worth a total of 2.75 trillion won to implement dividends of about 1.75 trillion won and purchase treasury stocks of about 1 trillion won over the next three years to strengthen the predictability of mid- to long-term shareholder return and expand shareholder value.
KT&G then purchased about 350 billion won in treasury stocks in December last year and paid dividends worth 575.9 billion won. As of fiscal 2021, the total shareholder return is 924.2 billion won, and the dividend payout ratio is 58.9%.
Meanwhile, KT&G announced that it recorded the highest quarterly performance in terms of sales in the third quarter. KT&G's third-quarter sales rose 8.5% year-on-year to KRW 1.621 trillion on a consolidated basis, which is analyzed to be due to the growth of domestic and foreign electronic cigarette sectors and overseas cigarette corporations.
"KT&G is striving to enhance shareholder value through investment for long-term growth based on a stable financial structure and the nation's best shareholder return policy," said Bang Kyung-man, general manager of KT&G. "We will become a global leading company by continuing growth of future strategic businesses such as the e-cigarette business and dry ginseng."
(Photo description) KT&G company CI image