KT&G invests 890 billion won in shareholder return this year
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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stockmk2020@alphabiz.co.kr | 2023-01-30 00:10:04
[Alpha Biz=(Chicago) Reporter Paul Lee] KT&G will invest 890 billion won this year in shareholder returns that return profits earned by the company to shareholders.
KT&G recently held an "Investor Day" and set the group's total sales target for 2027 at 10.2 trillion won and announced a shareholder return plan worth 890 billion won this year. It will also execute facility investment worth 3.9 trillion won by 2027.
Flashlight Capital Partners (FCP) is demanding KT&G to list KGC Ginseng Corporation separately and normalize shareholder return. In November last year, Anda Asset Management insisted on investing 500 billion won a year over three years to buy dividends and treasury stocks. The funds also recommended candidates for outside directors ahead of KT&G's shareholders' meeting scheduled for March. These funds issued a statement on the same day and criticized KT&G for failing to come up with specific and effective measures to enhance shareholder value.
KT&G closed at 94,000 won on the 27th, down 2.49% from the previous trading day.
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