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Photo = Yonhap news |
[Alpha Biz= Paul Lee] E-Mart announced on Thursday that it has decided to buy back and cancel 28,000 shares of its common stock, worth 37.2 billion KRW, as part of its plan to enhance corporate value. The cancellation is scheduled to take place on April 15.
Earlier, in February 2023, E-Mart revealed its corporate value enhancement plan, which includes raising its minimum dividend per share from 2,000 KRW to 2,500 KRW, a 25% increase. Additionally, the company aims to cancel a total of 560,000 shares (2% of total shares, or 50% of its treasury stock) by the end of next year.
To support the increased dividends, E-Mart plans to allocate an additional 13.4 billion KRW annually. In 2020, the company set a minimum dividend of 2,000 KRW per share, and in 2023, it raised its shareholder return policy, increasing the annual operating profit dedicated to shareholder returns from 15% to 20%, further demonstrating its commitment to enhancing shareholder value.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
