[Special Stock] 'Ex-Dividend' Gangwon Land Plummets

As of 9:20 a.m. on the 3rd, Gangwon Land's stock price is recorded at 15,380 KRW, down 6.79% from the previous day's closing price. This appears to be due to the ex-dividend date falling on this day.

Previously, on the 7th of last month, Gangwon Land announced a dividend totaling 234.5 billion KRW, the largest ever, with a common stock dividend of 1,170 KRW per share and a dividend yield of 7.3%. The dividend per share increased by 25.8% compared to last year. The record date for dividends is the 4th.

Listed companies announce that dividends will be paid to shareholders who hold shares by a specific date, called the 'record date.' Since it takes two business days for a stock purchase to settle, shares must be purchased at least two business days before the record date to be eligible for dividends. Therefore, a phenomenon called ex-dividend occurs, where the stock price drops starting from the day when buying shares no longer entitles the buyer to dividends.

Earlier, Gangwon Land announced that it achieved a total shareholder return ratio of 60%, the shareholder return target under the 'Corporate Value Enhancement Plan' announced in October last year, the first among public enterprises. The total shareholder return ratio is the ratio of dividends and share repurchases combined to net income. Last year, Gangwon Land completed a share repurchase worth 40 billion KRW, reducing the number of outstanding shares by about 1.1%, adopting a strategy to increase dividends per share.