Gaon Media Announces "Dividend Payout Ratio Above 20% for 3 Years"... Mid- to Long-Term Shareholder Return Policy Unveiled

Acquisition of Treasury Shares Worth 5 Billion Won Annually This Year
Stock Dividend Rate to be Maintained at 2~5% Level

[Asia Economy Reporter Hwang Yoon-joo] Gaon Media is implementing a three-year mid- to long-term shareholder return policy to enhance shareholder value.

Gaon Media announced on the 1st that it will return value to shareholders through ▲share repurchases ▲cash dividends ▲stock dividends.

The company plans to repurchase treasury shares worth 5 billion KRW annually this year and intends to acquire shares at a level of 20% to 30% based on the previous year's separate net profit for the next two years.

Regarding dividends, Gaon Media plans to determine the total cash dividend amount at a payout ratio of around 20% based on separate net profit for the three fiscal years including this year, and will conduct stock dividends at a rate of 2% to 5%.

CEO Lim Dong-yeon said, "This mid- to long-term policy was decided as part of responsible management to enhance shareholder value, and we will actively implement shareholder return policies going forward. We will also accelerate securing new growth engines for the Gaon Group and strengthen competitiveness to maximize the company's future value."

Meanwhile, Gaon Media's consolidated sales last year reached 533.1 billion KRW, operating profit was 28.4 billion KRW, up 10% and 206% respectively compared to the previous year, and net profit recorded a remarkable performance of 18.8 billion KRW, growing 842% year-on-year.