Lotte Shopping issues interim dividend for 2nd consecutive year, raises payout

Lotte Shopping will pay an interim dividend for the second consecutive year, following last year's payout.

The company held a board meeting Thursday afternoon and disclosed that it had approved an interim dividend of 1,300 won per share. The total payout amounts to 36.75 billion won ($24 million). The dividend record date is June 30, with payment scheduled for July 31.

Lotte Shopping announced a shareholder return policy in October 2024, pledging to consider interim dividend payments, and became the first company in the Korean retail sector to issue one last year. The per-share dividend has risen from 1,200 won last year to 1,300 won this year.

The company posted net sales of 3.58 trillion won and operating profit of 252.9 billion won in the first quarter of this year, up 3.6 percent and 70.6 percent, respectively, from the same period a year earlier.

"This interim dividend and the expansion of our payout reflect our commitment to actively delivering on our corporate value enhancement plan," said Lim Jae-cheol, head of Lotte Shopping's finance division. "We will continue to strengthen our core business competitiveness, pursue profitability-focused management, and fulfill our shareholder return policy."