Coloray Approves Cash Dividend at General Meeting... Enhancing Shareholder Value

Coloray, a manufacturer and seller of pearl luster pigments, announced on the 30th that it approved a cash dividend proposal at its regular shareholders' meeting.

The total cash dividend amounts to $500,000 (approximately 687 million KRW), with a dividend of 10.7 KRW per share. The dividend will be paid within one month after the shareholders' meeting date.

According to the business report at the shareholders' meeting, sales of Coloray's main product, pearl luster pigments, increased by 26.3% compared to the previous period, and sales of Coloray Korea, Coloray's Korean branch, surged by 220% on a consolidated basis compared to the previous period.

A Coloray representative stated, "The increase in sales was due to a sales strategy focused on expanding market share by reducing margin rates and selling at discounted prices," adding, "A new synthetic mica production facility with an annual capacity (CAPA) of 6,000 tons is scheduled to be completed by the end of June this year, and through this, we will continue the sales growth trend by reducing raw material costs and increasing sales."