Koramco Life Infrastructure REITs, Special Dividend... 11% Annual Yield Based on Market Price

Koramco Life Infrastructure REIT announced on the 25th that it has confirmed a special dividend at the end of November. Based on the closing price of 4,345 KRW on the 22nd, the annualized dividend yield reaches 11%.

Last month, Koramco Life Infrastructure REIT completed the sale of the Mokgam gas station site located in Siheung-si, Gyeonggi-do. This year, it sold six assets including the Gangwon Sincheorwon gas station, Samcheonri gas station, Daejeon Jungang-ro self-service gas station, Gyeonggi Gunja self-service gas station, Mokgam gas station, and Seoul Dongnimmun gas station. All proceeds from these sales will be paid out as special dividends.

The special dividend will be paid to shareholders registered in the shareholder registry by November 29. The payment will be deposited into each shareholder’s stock account in February next year. To be registered in the shareholder registry, shares must be held until the 27th.

At the time of listing, 100% of Koramco Life Infrastructure REIT’s revenue came from gas stations. Currently, the revenue composition is diversified with logistics centers accounting for 32%, retail 11%, electric vehicle charging stations 5%, and offices 4%. The revenue share related to gas stations has steadily decreased to 48%.

Koramco Life Infrastructure REIT is a flagship listed REIT of Koramco Asset Trust, which owns over 150 HD Hyundai Oilbank directly operated gas stations nationwide, large home appliance stores, mega logistics centers, and landmark office preferred shares.

Lee Jang-hyuk, Head of General Operations at Koramco Life Infrastructure REIT, said, "While most listed REIT stocks are currently underperforming, this is actually a time when investors can secure a high dividend yield. Koramco Life Infrastructure REIT will continue to strive for actual dividends that exceed target returns through various strategies and portfolio adjustments."

Koramco Asset Trust, the asset manager of Koramco Life Infrastructure REIT, plans to continue special dividends by reducing related revenue through gas station sales and entering highly profitable new businesses in the first half of next year.