Aekyung Industrial Moves to Return Value to Shareholders... 10 Billion KRW Buyback and Dividend Increase

Cash Dividends Expanded from 310 Won to 580 Won in 2022

Aekyung Industrial is enhancing shareholder value by expanding dividends in addition to acquiring treasury shares.

Aekyung Industrial announced on the 21st that it held a board meeting and decided to enter into a trust contract for the acquisition of treasury shares worth 10 billion KRW. The contract period is about six months, from the 22nd of this month to September 23rd, and the contracting institution is NH Investment & Securities.

Aekyung Industrial CI. [Image provided by Aekyung Industrial]

Additionally, Aekyung Industrial increased the cash dividend from 310 KRW per share in 2022 to 580 KRW. The company explained that this treasury share repurchase and dividend increase are part of its shareholder return policy aimed at enhancing shareholder value.

Last year, Aekyung Industrial also purchased treasury shares worth 10 billion KRW. Along with this, it established a dividend policy to maintain a payout ratio of around 30% for three years from 2023 to 2025. Executives of Aekyung Industrial also purchased treasury shares several times last year as part of responsible management.

Meanwhile, Aekyung Industrial recorded sales of 668.9 billion KRW last year, a 9.6% increase compared to the previous year. Operating profit during the same period rose 58.7% to 61.9 billion KRW. Last year’s sales reached 95% of the 2019 level before the COVID-19 pandemic. Operating profit surpassed that of 2019.

An Aekyung Industrial official stated, "We plan to continuously implement proactive shareholder-friendly policies for increasing corporate value and shareholders, as well as efforts to demonstrate the company’s growth, including strengthening global competitiveness."