Modetouritz, Two Consecutive Years of High Dividends with '90% Dividend Payout Ratio'

Total 7.5 Billion... Continued Shareholder-Friendly Policies
Top Dividend Yield Among Listed Companies

Modetour REITs, a KOSPI-listed company, has decided to continue paying high dividends this year following last year, maintaining its shareholder-friendly policy.

On the 5th, Modetour REITs announced through a board resolution that it decided on a cash dividend of 961 KRW per common share. The dividend yield is 8.15%, and the total dividend amount is 7.52156 billion KRW.

A company representative stated, "Following the cash dividend of 12.3 billion KRW, which was 99.8% of the 2022 profit distribution limit (distributable profit), we have decided to distribute approximately 7.5 billion KRW, equivalent to 90.0% of the distributable profit for the 2023 fiscal year, to shareholders."

Modetour REITs, which pursues a shareholder-friendly policy, has paid nearly 20 billion KRW in total dividends over the past two years. This means that 50.7% of the company's paid-in capital has been returned (dividended) to shareholders in just two years.

In 2022, Modetour REITs attracted investors' attention with the highest dividend yield. Last year, Modetour REITs' dividend yield was 32.9%, ranking first among domestic listed companies (excluding the Korea ANKOR Oilfield Fund). Although the dividend yield has dropped to the 8% range this year due to stock price increases, this figure still corresponds to the 29th highest dividend yield among domestic listed companies last year, indicating a high level.

A Modetour REITs representative said, "We are continuously pursuing a high dividend policy to meet shareholders' expectations," adding, "We plan to strengthen our shareholder-friendly policy stance by reviewing not only dividend policies based on company profits but also premium return policies."