LS Marine Solution Announces Cash Dividend of 160 KRW per Share... 5 Times Increase Compared to Previous Year

Approval of Total Dividends Amounting to Approximately 4 Billion KRW

LS Marine Solution announced on the 7th that it held a board meeting and resolved a record-high total dividend of 160 KRW per share, approximately 4 billion KRW in total dividends.

The dividend per share is more than five times higher than last year's 30 KRW.

The company stated, "Considering last year's record-breaking performance, we decided on a shareholder-friendly return policy."

LS Marine Solution's subsea optical cable installation vessel 'Segyero'.
[Photo by LS Marine Solution]

LS Marine Solution recorded provisional results last year with sales of 70.8 billion KRW, operating profit of 13.1 billion KRW, and net profit of 11.6 billion KRW. Sales increased by more than 65% compared to the previous year, and operating profit and net profit both turned positive. The operating profit margin reached 18.5%, reflecting the visible synergy from building a value chain with LS Cable & System.

Lee Seung-yong, CEO of LS Marine Solution, said, "We plan to maintain a dividend payout ratio around 30% and continue investments for future growth," adding, "We will continue a shareholder-friendly dividend policy through a virtuous cycle of investment and growth."

LS Marine Solution is expected to continue its growth this year through projects such as the Jeonnam Offshore Wind Power project and additional domestic offshore wind power orders. Furthermore, the company is actively expanding overseas by establishing an office in Taiwan, which is emerging as Asia's largest offshore wind power market, and strengthening local marketing efforts.