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[Alpha Biz=(Chicago) Reporter Kim Jisun] HD Hyundai Infracore, which posted solid earnings last year, has decided to retire treasury stocks worth 56 billion won.
HD Hyundai Infracore said in a public announcement on the 2nd that the board of directors decided to retire 7,244,501 shares of its own shares worth a total of 56 billion won. Treasury stocks scheduled to be acquired and incinerated account for 3.6% of the total issued shares. It will be purchased on the 5th of this month and incinerated on August 5th this year.
In addition, HD Hyundai Infracore decided to pay cash dividends of 110 won per common stock last year through a board resolution. The total amount of dividends is 22 billion won.
The combined amount of cash dividends and treasury stock purchases and retirement amounts to a total of 78 billion won. It is an increase of 63% compared to last year's dividend (47.9 billion won).
The background of HD Hyundai Infracore's active efforts to enhance shareholder value is good performance. According to the announcement, sales of HD Hyundai Infracore fell 2% year-on-year to 4.6596 trillion won, but operating profit rose 25.8% to 418.3 billion won over the same period. In the construction machinery business, sales in North America and Europe increased 12.8% last year, driving the performance. In addition, the increase in sales prices while the supply strategy focused on profitable products also affected the increase in operating profit.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
