Yesco Holdings confirmed that it plans to hold a board meeting to designate the settlement of account dividends record date for February 2025. This marks a change from its previous practice of setting the record date for year-end dividends.
LS Group stated on the 27th that the record date for the settlement of account dividends for Yesco Holdings will not be at year-end and that a board meeting will be held in the future to designate it. Yesco Holdings plans to hold its settlement of account board meeting in February 2025.
Yesco Holdings' stock price fell by more than 10% during trading on this day. This decline is interpreted as shareholders mistakenly selling shares, believing it to be the dividend cutoff date, as Yesco Holdings had previously set December 31 as the record date for settlements. Setting December 31 as the record date means that only shareholders who own shares up to the previous day can receive the settlement of account dividends, and the right to receive dividends disappears from this day onward.
Since Yesco Holdings has decided to designate a separate record date for the settlement of account dividends, shares must be purchased at least two trading days before this date to acquire the right to receive dividends.
Yesco Holdings is regarded as a representative high-dividend stock in the domestic market. The average dividend yield for the settlement of account over the past three years is 7.1%. The average dividend yield over the past five years is around 6.3%.
Yesco Holdings also conducts special dividends (mid dividends) using resources generated from temporary revenue or excess investment performance. In the first quarter of this year, it distributed a dividend of 1,000 won per share based on the mid dividends received last November from Hansung PC Construction. The average dividend yield for the past three years, including Yesco Holdings' special dividends, is 8.4%.
An official from the financial investment industry noted, "Although the 26th is not the dividend record date, some investors who thought they had the right to receive dividends sold off on the 27th, leading to the inevitable situation of 'unexpected sharp declines' in corporations. It is important to be cautious with such companies to avoid panic selling."