Meetuzen Declares Interim Dividend... "Proactive Shareholder-Friendly Policy"

[Asia Economy Reporter Jang Hyowon] Mobile game company Mitoozen will conduct an interim dividend as part of its shareholder-friendly policy.

Mitoozen announced on the 23rd that it held a board meeting and decided on an interim dividend of 1,217 KRW per share. The record date for the dividend is July 31, and the total dividend amount is approximately 15 billion KRW. The dividend yield based on market price is 8.51%.

Since its listing in 2020, Mitoozen has expressed its commitment to strengthening shareholder-friendly policies to enhance corporate and shareholder value. As part of this, it has been implementing a cash dividend of 40% of net income annually, and since May last year, it has completed three large-scale share buybacks.

Additionally, to secure future growth engines, it has acquired three companies: webtoon and web novel content platform company ‘Mitun & Novel’, action RPG and TPS game company ‘Jofsoft’, and blockchain developer ‘Miverse Labs’. It is also focusing on maximizing synergy between its parent company Mitoon and group affiliates.

Son Changwook, CEO of Mitoozen, stated, “This interim dividend decision is a bold move to boost stock prices and strengthen shareholder-friendly policies despite the increased volatility amid the global and domestic stock markets’ overall decline. We plan to continue various activities to enhance shareholder value and build trust with our shareholders.”

Mitoozen was acquired by Mitoon in 2017 and has grown focusing on social casino and casual game businesses. It is actively responding to the rapidly changing markets such as NFT and P2E, and is simultaneously pursuing new business through blockchain-based game development. Based on Mitoon Group’s metaverse blockchain Miverse, it plans to launch its casual game ‘Pocket Battles NFT War’ in July, and will release the global platform Steam version of its subsidiary Jofsoft’s strategic TPS game Lift Sweeper in the second half of the year.