[Market Focus] KT&G Hits Record High on Strong Q2 Results and Enhanced Shareholder Returns

KT&G hit a 52-week intraday high as its strong second-quarter results and enhanced shareholder returns fueled an upward trend.

As of 9:45 a.m. on August 8, KT&G was trading at 142,600 won on the Korea Exchange, up 4,100 won (2.96%) from the previous day. During the session, the stock climbed as high as 149,400 won, setting a new 52-week high.

On the previous day, KT&G announced in a regulatory filing that its consolidated operating profit for the second quarter of this year was provisionally tallied at 349.9 billion won, an increase of 8.7% compared to the same period last year. Revenue for the same period rose by 8.7% to 1.5479 trillion won. For the first half of the year, revenue exceeded 3 trillion won for the first time.

In addition, KT&G's board of directors resolved to raise the interim dividend by 200 won from last year to 1,400 won, and starting August 8, the company will repurchase and cancel approximately 300 billion won worth of treasury shares.