Misto Holdings announced Tuesday that its board approved a cash dividend of 960 won per common share for the third quarter.
The payout is up about 2.1 percent from the 940 won per share distributed in the same period last year. Total dividends amount to approximately 50.2 billion won ($37 million). The record date is Oct. 16, with payment expected within this month.
The announcement comes as Misto Holdings pursues a medium- to long-term shareholder return policy targeting up to 500 billion won between 2025 and 2027, under which the company has been buying back and retiring its own shares in addition to paying dividends. The company also acquired 15 billion won worth of treasury shares this year. Misto Holdings is also working to maintain a total shareholder return ratio of at least 40 percent on an annual average basis through 2026 and 2027, and to make share cancellations a regular practice at least once a year.
"This quarterly dividend is part of our ongoing effort to fulfill our medium- to long-term shareholder return policy," said Lee Ho-yeon, chief financial officer of Misto Holdings. "We will continue to faithfully carry out various shareholder return measures, including dividends and share buybacks, to enhance both corporate and shareholder value."
spa@heraldcorp.com
