[Alpha Biz= Kim Jisun] KG Inicis announced on Wednesday its decision to retire 350,000 of its own shares, representing approximately 27.2% of its total treasury stock (1,285,946 shares).
The retirement amount is approximately KRW 2.968 billion, based on the previous day's closing price, and the process is scheduled for March 20. The company emphasized that this will be conducted without a capital reduction, utilizing distributable profits, thereby minimizing any impact on operations.
This move aligns with KG Inicis’ shareholder return strategy, which was first disclosed in December last year. The company committed to:
Distribute 25% of net income as dividends from 2024 to 2026
Retire 5% of its treasury shares annually, achieving a 30% total shareholder return rate
This share retirement marks the first step in executing that value-enhancing plan.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
