[Featured Stock] 'Increased Dividends for Small Shareholders' Kyobo Securities Rises Over 6%

Decision Made for No Dividend to Largest Shareholder

Kyobo Securities, which decided on a cash dividend of 500 KRW per common share for minority shareholders, is showing strong gains on the 7th.

As of 9:20 AM on this day, Kyobo Securities' stock is trading at 5,760 KRW, up 6.08% compared to the previous session.

The sharp rise is interpreted as a result of Kyobo Securities' board resolution the previous day to approve a cash dividend of 500 KRW per common share for minority shareholders. Kyobo Securities also decided on no dividend for its largest shareholder, Kyobo Life Insurance, to enhance value for minority shareholders and return profits. The total dividend amount is 8.16046 billion KRW, with a dividend yield of 9.3%, and the record date is the 28th of next month.

Kyobo Securities' dividend payout ratios over the past three years have been expanding: 29.4% in 2022, 41.8% in 2023, and 48% last year.

A Kyobo Securities official stated, “To enhance value for minority shareholders and strengthen profit returns, we have maintained a no-dividend policy for the largest shareholder for three consecutive years starting in 2023,” adding, “We plan to continuously improve shareholder value through a dividend policy centered on minority shareholders.”