Namuga Targets 40% Payout Ratio... Rising Expectations for Tax Benefits as a "High-Dividend Company"

On the 25th, Namuga announced that its board of directors had resolved to pay a cash dividend of 728 won per share. The total dividend payout amounts to approximately 10.2 billion won, increasing both the dividend per share and the total dividend compared with the previous year and continuing its shareholder return policy.

This dividend scale was determined by targeting a payout ratio of at least 40% based on consolidated net income. This is seen as a move to participate in shareholder-friendly policies by meeting the requirements of the government's proposed "special separate taxation on dividend income for shareholders of high-dividend companies." Accordingly, if the relevant conditions are met, shareholders are expected to enjoy higher effective after-tax returns through tax benefits.

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The resolution to convene a general meeting of shareholders, disclosed on the same day, also included an agenda item to establish and amend the reference date for dividends in the articles of incorporation. The key objective is to improve procedures so that investors can decide whether to invest after first confirming the dividend amount, and Namuga is interpreted as seeking to build a shareholder return framework that aligns with global standards.

Meanwhile, over the past year, Namuga has completed the retirement of its own shares in five tranches, totaling 30 billion won. This is the result of diversifying its shareholder return policy by implementing both cash dividends and share retirements in parallel.

Since implementing its first dividend in 2025, Namuga has been reinforcing its shareholder return stance by simultaneously carrying out large-scale share retirements and increasing dividends. As the company is striving to meet the criteria for high-dividend companies while taking into account shareholders' actual after-tax returns, it plans to continue responding swiftly to market expectations and to earn positive evaluations and trust from the market as a shareholder-friendly company.