[Featured Stock] Daou Technology Surges on High Dividend News

As of 9:30 AM on the 25th, Daou Technology's stock price rose 8.4% to 20,650 KRW. The significant increase in operating profit and a high dividend yield of 7.4% appear to have acted as positive factors.

Earlier, Daou Technology announced its performance for the previous year based on consolidated financial statements, reporting sales of 11.6256 trillion KRW and operating profit of 1.1746 trillion KRW. Sales increased by 18% and operating profit surged by 83.6% compared to the previous year.

The company explained, "This was thanks to increased brokerage and corporate finance revenues from financial sector companies such as Kiwoom Securities, which are consolidated."

As of June 2024, the Daou Kiwoom Group has a governance structure led by CEO Kim Dong-jun, son of former Daou Kiwoom Group Chairman Kim Ik-rae, following the chain: E-Money → Daou Data (31.6%) → Daou Technology (45.2%) → Kiwoom Securities (42.3%), Saramin (32.6%), and Korea Information Certification (43.9%).

Meanwhile, Daou Technology announced a cash dividend of 1,400 KRW per share as a year-end dividend the previous day. The dividend yield is 7.4%, and the record date (shareholder registry closure date) is the 31st of next month.

Earlier, Daou Technology’s subsidiary Kiwoom Securities also announced a cash dividend of 7,500 KRW per share at the end of last year. As a result, Kiwoom Securities’ total dividend amount for the last fiscal year was 205.7 billion KRW, more than double the 88.1 billion KRW in 2023.