Korea Zinc to Pay Interim Dividend of 10,000 KRW per Share... Also Plans Share Buyback

Korea Zinc held a board meeting on the 7th and decided to pay a cash dividend of 10,000 KRW per common share as an interim dividend this year, following last year. This interim dividend amounts to 71.4% of the net profit for the first half of this year (based on the half-year).

Earlier, in February last year, Korea Zinc announced a policy to maintain a dividend payout ratio of over 30% based on separate net profit for the next three years and to conduct one interim dividend per year to increase predictability for investors.

Korea Zinc explained, "At the end of last year, we also announced a policy to return more than 4 trillion KRW to shareholders over the next 10 years," adding, "This interim dividend decision is part of that direction." Korea Zinc also decided at this board meeting to repurchase additional treasury shares worth 400 billion KRW.

The company explained that repurchasing treasury shares using held cash can raise the return on equity (ROE) and thereby increase corporate value.

Korea Zinc stated, "To enhance mid- to long-term growth and shareholder value, we are also promoting measures such as strengthening board independence, improving governance, reinforcing ESG (Environmental, Social, and Governance) management, and enhancing disclosure," adding, "We will pursue growth for the next 50 years through win-win management with employees."