DYPNF Announces 3 Billion KRW Share Buyback and Cancellation

DYPNF will repurchase and cancel its treasury shares to enhance shareholder value.

On the 25th, DYPNF, a specialist in powder conveying systems, announced that it will purchase approximately 3 billion KRW worth of its own shares. The number of shares to be acquired is about 200,000, representing 1.9% of the total issued shares. The repurchased treasury shares will be canceled.

At the shareholders' meeting on the 31st, a resolution will be made regarding the reduction of capital reserves and the transfer to retained earnings. By securing additional distributable profits, the company plans to strengthen various shareholder return policies such as treasury stock repurchase and dividend expansion.

A company official stated, "As part of responsible management to increase shareholder value, we have decided to repurchase and cancel treasury shares," adding, "We expect this to have a positive impact on the stock price."

He continued, "Following the shareholder return management policy of the CEO and top executives, we will continue to promote the repurchase and cancellation of treasury shares."

DYPNF recorded an operating profit of 25.7 billion KRW and a net profit of 18.6 billion KRW last year. The company expects a continued stable improvement in performance this year based on a robust order backlog.