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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Meritz Financial Group has announced the acquisition of treasury shares worth 500 billion KRW, leading to a positive response in the stock market as its share price reached a 52-week high.
As of 2 PM on September 26, Meritz Financial's shares were trading at 98,200 KRW, up 5.36% (5,000 KRW) from the previous trading day. During intraday trading, the stock even peaked at 99,000 KRW, marking a new 52-week high.
On the previous day, Meritz Financial disclosed that it had entered into a trust agreement for the acquisition of treasury shares worth 500 billion KRW with Korea Investment & Securities and NH Investment & Securities. The agreement is set to take effect on September 26, with the total amount expected to be retired immediately after the contract ends on September 25. This follows a similar acquisition of 500 billion KRW in treasury shares back in March.
With this trust agreement for treasury stock acquisition, Meritz Financial is progressing with its shareholder return policy, which amounts to 1 trillion KRW. The company plans to complete its shareholder return policy for the fiscal year 2024, which aims for a 50% return based on consolidated net income, through dividends and other means.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
