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Photo: LS Cable & System |
[Alpha Biz= Kim Jisun] Seoul, Korea – LS Corp. announced on the 12th that it has decided to buy back and retire its shares worth 1.712 trillion KRW to enhance shareholder value.
The company plans to retire approximately 3.1% of its total issued shares, or 1 million shares, based on the closing price of 171,200 KRW per share on the previous day. The buyback will be executed in two phases: 500,000 shares will be retired by the 21st of this month, with the remaining shares to be retired in the first quarter of next year.
At the previous shareholder meeting, LS also committed to increasing dividends by more than 5% annually, with a target to expand dividends by over 30% by 2030. Additionally, the company is actively considering interim dividends within its financial resources, in addition to regular annual dividends.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
