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Shinsegae I & C |
[Alpha Biz= Reporter Kim Jisun] Shinsegae I&C has announced plans to retire approximately 18.7 billion KRW worth of treasury shares within the year as part of its efforts to enhance shareholder value.
On September 26, the company revealed that it would retire 1.93 million shares, representing 48% of its total 4.05 million treasury shares, to improve key per-share performance metrics such as earnings per share (EPS) and book value per share (BPS).
This decision was approved by the board of directors and will be finalized following an extraordinary general meeting of shareholders in October, with the retirement process expected to be completed by the end of the year. Based on the closing price on the 26th, the value of the shares to be retired is approximately 18.7 billion KRW. Once the shares are retired, the total number of shares in circulation will decrease by 11%, from 17.2 million to 15.27 million. The company expects this to increase per-share value and enhance stock price flexibility, ultimately benefiting shareholders.
Shinsegae I&C has been expanding its shareholder return policy this year, aiming to distribute 15-20% of its annual standalone operating profit to shareholders and setting a minimum dividend of 350 KRW per share.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
